Missouri ABLE savings program
E926194
The Missouri ABLE savings program is a state-sponsored initiative that allows eligible individuals with disabilities and their families to save and invest money for disability-related expenses in tax-advantaged accounts without jeopardizing certain public benefits.
Statements (50)
| Predicate | Object |
|---|---|
| instanceOf |
disability savings program
ⓘ
state-sponsored ABLE savings program ⓘ tax-advantaged savings program ⓘ |
| accountControl | may be managed by an authorized legal representative if needed ⓘ |
| accountOwnership | owned by the eligible individual with a disability ⓘ |
| accountType | 529A ABLE account ⓘ |
| administeredBy | Missouri State Treasurer’s Office NERFINISHED ⓘ |
| allows |
investing money for disability-related expenses
ⓘ
saving money for disability-related expenses ⓘ |
| alsoKnownAs |
MO ABLE
NERFINISHED
ⓘ
Missouri ABLE NERFINISHED ⓘ |
| basedOn | Achieving a Better Life Experience Act of 2014 NERFINISHED ⓘ |
| benefitType |
investment accounts
ⓘ
protection of eligibility for certain public benefits ⓘ tax-advantaged savings ⓘ |
| contributionSource |
account owner
ⓘ
family members ⓘ friends ⓘ third parties ⓘ |
| country |
United States of America
ⓘ
surface form:
United States
|
| designedTo |
encourage savings by individuals with disabilities
ⓘ
reduce reliance on institutional care by supporting community living ⓘ |
| eligibilityCriterion |
Missouri residency requirement for the account owner or other state-specific rules
ⓘ
meets Social Security definition of disability or comparable standard ⓘ onset of disability before age 26 ⓘ |
| feature |
earnings grow tax-deferred for federal tax purposes
ⓘ
qualified withdrawals are tax-free for federal tax purposes ⓘ |
| hasAnnualContributionLimit | yes ⓘ |
| hasContributionLimit | yes ⓘ |
| hasLifetimeContributionLimit | yes ⓘ |
| operatedIn | Missouri NERFINISHED ⓘ |
| primaryPurpose |
allow eligible individuals with disabilities to save for disability-related expenses
ⓘ
provide tax-advantaged savings for disability-related expenses ⓘ |
| protectsBenefit |
Medicaid
NERFINISHED
ⓘ
Supplemental Security Income NERFINISHED ⓘ |
| regulatoryFramework |
Missouri state statutes governing ABLE accounts
ⓘ
federal ABLE Act regulations ⓘ |
| sponsoredBy | State of Missouri NERFINISHED ⓘ |
| targetPopulation |
families of individuals with disabilities
ⓘ
individuals with disabilities ⓘ |
| useOfFunds |
assistive technology and related services
ⓘ
education expenses related to disability ⓘ employment training and support ⓘ financial management and administrative services ⓘ health care expenses related to disability ⓘ housing expenses related to disability ⓘ other qualified disability-related expenses as defined by federal law ⓘ personal support services ⓘ transportation expenses related to disability ⓘ |
| website | official Missouri ABLE program website ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.