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Ascensus Data Provides First Look into Savings Behaviors within the ABLE MarketDRESHER, Pa., Nov. 28, 2018 /PRNewswire/ -- Ascensus—whose technology and expertise helps millions of people save for retirement, education, and healthcare—has released trends data from its Achieving a Better Life Experience (ABLE) platform, offering a first look into the savings behaviors and growth of this recently created market. ABLE programs were established following the passage in December 2014 of the federal Stephen Beck Jr., Achieving a Better Life Experience (ABLE) Act to allow people with a disability or blindness to save for the future without jeopardizing their federal disability benefits. ABLE savings accounts allow for tax-deferred investment growth and tax-free withdrawals when savings are spent on qualifying disability-related expenses.* Account contributions can be made by anyone, including family and friends. "ABLE programs allow people living with disabilities and blindness to save for the specialized care and resources they need," states Kevin Cox, head of Ascensus' government savings division. "We're honored to serve the unique needs of this developing market, currently providing account administration services for 20 of the 40 existing ABLE programs across the U.S." Ascensus recently published its Inside Savings Plans report, which features data on the savings behaviors of ABLE accoun owners across Ascensus-administered programs. The following data points provide a glimpse into the demographics of the ABLE market and how savers are engaging with these new specialized savings vehicles.
For additional ABLE savings trends and insights from Ascensus, visit pulse.ascensus.com. About Ascensus * Earnings on non-qualified withdrawals may be subject to federal income tax and a 10% federal penalty tax, as well as applicable state and local income taxes. View original content to download multimedia:http://www.prnewswire.com/news-releases/ascensus-data-provides-first-look-into-savings-behaviors-within-the-able-market-300756955.html SOURCE Ascensus |