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Maine launching ABLE to Save program

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$100 bills(Associated Press)
Published: Aug. 18, 2021 at 4:27 PM EDT
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BANGOR, Maine (WABI) - Did you know that August is ABLE to Save Month?

It’s based on the federal program Achieving a Better Life Experience Act.

Maine officials announced they are the latest state to endorse the program.

It’s a partnership with Bangor Savings Bank.

It helps people living with disabilities and their families save for the future.

In doing so it protects their eligibility for public benefits.

“Normally under Social Security rules, folks are not able to have over $2,000 in cash or assets before it starts to impact their benefits, and this is a carve out that allows people to accumulate assets, safely, and will not count toward that $2,000 threshold,” said Gregory Olson, State of Maine deputy treasurer.

With the announcement of the program coming Wednesday, the site to sign up locally with Bangor Savings Bank will not be up and running until the fall, so stay tuned.

But if you ‘re eager make an account now, visit https://nast.org/able/

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