Press Release
September 8, 2021

ABLE Utah Accounts Allow Individuals with Disabilities to Save and Invest Without Losing Benefits

SALT LAKE CITY (Sept. 8, 2021) — Today, the Utah Department of Workforce Services and the Utah State Treasurer’s Office have announced the launch of ABLE Utah, a tax-free savings program for individuals with disabilities receiving needs-based benefits. 

“This savings program will benefit people with disabilities across the state and aid them in living more independent lives, finding stability through gainful employment and planning for the future,” said Department of Workforce Services’ Utah State Office of Rehabilitation Services Director Sarah Brenna. “ABLE Utah is an important part of our ongoing efforts to provide effective tools and better opportunities for Utahns with disabilities.”

Medicaid, Supplemental Security Income (SSI) and other needs-based benefit programs typically have asset limits. This means that recipients are required not only to have very low incomes, but also that their assets are valued below a certain threshold. Understandably, this can limit opportunities and incentives to work for people with disabilities.

To address this problem, ABLE accounts were created federally through the Achieving a Better Life Experience (ABLE) Act in 2014 and established in Utah by the Utah State Legislature in 2015. Until 2021, however, these accounts were administered out of state. With the launch of ABLE Utah, residents can now access these accounts through the Department of Workforce Services and start saving and investing.

ABLE Utah accounts act like a regular bank account or investment tool—similar to a 529 college savings account or a 401(k) retirement account. Contributions and earnings in ABLE Utah accounts are not subject to federal or state income tax if spent on qualifying expenses, such as education, health care or housing and transportation. Contributions to ABLE Utah accounts are made with after-tax dollars.

ABLE Utah account holders can receive a debit card linked directly to their account. Money can be withdrawn and spent on qualified expenses as needed. Users can contribute up to $15,000 per year. If employed, they can contribute an additional $12,760 of income. Investment tools include four mutual fund-based investments and one FDIC-insured savings option.

“ABLE Utah will be a beneficial asset for people with disabilities across the state,” said Utah State Treasurer Marlo M. Oaks. “This savings program is an important part of our ongoing efforts to provide better opportunities for Utahns with disabilities and support Utah’s economy and workforce.” < /p>  

While many people with a disability lead a productive life, the introduction of the ABLE Utah accounts will allow greater options in pursuing independent living and careers. ABLE Utah account holders grow their finances and establish long-term savings with tax-free earnings. Friends and family members may also make contributions on behalf of an account holder.

More information about ABLE Utah, including the application form and eligibility requirements can be found at