TMCnet News

Nebraska Plans to Launch One of the First ABLE Programs in the Country to Provide Tax-Advantaged Savings for People with Disabilities
[November 19, 2015]

Nebraska Plans to Launch One of the First ABLE Programs in the Country to Provide Tax-Advantaged Savings for People with Disabilities


Nebraska State Treasurer Don Stenberg announced Thursday the state plans to launch Enable, its new Achieving a Better Life Experience (ABLE) program, allowing qualifying Nebraskans with disabilities to create tax-advantaged savings accounts without losing eligibility for needs-based financial aid.

Stenberg, the trustee of Enable, said the new Nebraska program is expected to be operational by summer 2016. First National Bank of Omaha has been named the new Enable program manager, following approval earlier this week by the Nebraska Investment Council and the Treasurer's office.

Selecting a program manager will help Nebraska become one of the first programs in the nation to be up and running, Stenberg said. The federal ABLE Act became law in December. Since then, 34 states have passed state ABLE laws, including Nebraska.

First National Bank of Omaha has significant expertise in this area because of its work as program manager for the NEST 529 college savings program, Stenberg said. "First National Bank is designing Enable in a manner that Nebraskans will embrace, and the program is replicable, in other states." Stenberg added that Enable will be simple to use and as low cost as possible. To find out more about Enable, visit www.enable.com or www.treasurer.nebraska.gov/csp/able/.



"First National Bank has maintained its commitment to helping build strong communities across Nebraska," said Clark Lauritzen, executive vice president, First National Bank of Omaha. "Enable is a natural extension of our core values giving us yet another opportunity to serve the needs of another extremely important segment of our community. First National Bank values serving individuals and families on every part of their journey. We are grateful for this opportunity to truly help people achieve a better life experience."

About Enable
Enable is Nebraska's Achieving a Better Life Experience (ABLE) program, allowing qualifying Nebraskans with disabilities to create tax-advantaged savings accounts without losing eligibility for needs-based financial aid. The program will offer low-cost, risk-based, long-term investment choices; check writing and debit card capabilities for daily and on-going expenses; a full-feature ADA-compliant website; and a bank saving option insured by the FDIC. To find out more information or sign up for regular updates, go to www.enablenebraska.com or email [email protected]. Information also is available at www.treasurer.nebraska.gov/csp/able


About First National Bank of Omaha
First National Bank of Omaha is a subsidiary of First National of Nebraska. First National of Nebraska is the largest privately owned banking company in the United States. First National and its affiliates have $20 billion in assets and 5,000 employee associates. Primary banking offices are located in Nebraska, Colorado, Illinois, Iowa, Kansas, South Dakota and Texas.

Don Stenberg, Nebraska State Treasurer, Trustee

First National Bank of Omaha, Program Manager


[ Back To TMCnet.com's Homepage ]