ABLE Employment Flexibility Act

Flexibility in Savings: An eligible employee can elect to have employer contributions made to a qualified ABLE program instead of a retirement plan (Section 2(a)(1)).

Protection of Benefits: Contributions made to a qualified ABLE program pursuant to this act will be disregarded, including as income, when determining eligibility or the amount of assistance or benefits for certain means-tested Federal programs (Section 2(g)(1)).

Employer Matching: Employers are authorized to contribute to a qualified ABLE program, which can include matching a contribution made by the eligible individual (Section 2(c)).

Improved Information for Employees: The Secretary of the Treasury is tasked with updating publications to encourage employers to notify employees who do not contribute to retirement plans about the possibility of contributing to an ABLE program instead (Section 2(d)(2)).

Restriction on Election Availability: The ability to elect these contributions is not guaranteed for everyone unless the employer's plan specifically provides that the election is available to all eligible ABLE individuals (Section 2(a)(3)).

Tax Deduction Limitation: Contributions made to a qualified ABLE program via this election will not be treated as a contribution to an applicable employer plan, except as specifically provided by the rules (Section 2(a)(2)(A)).