News Release

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Treasurer Chiang, State and Local Leaders to Launch Major Program
to Financially Empower Those with Disabilities to Save for the Future
First Individuals, Among the Estimated Hundreds of Thousands Who Qualify, are Among Participants Expected
at News Conferences in Berkeley and Los Angeles

PR18:80
December 18, 2018

Contact: Press Office
916-653-2995

Today, California State Treasurer John Chiang will be joined by state and local leaders, as well as advocates and stakeholders in the disability community, to launch CalABLE — a new, innovative state program that will allow individuals with disabilities to open tax-advantaged savings and investment accounts and contribute significantly more than the $2,000 they are currently allowed to save under rules for many government programs. Eligible individuals will now be able to contribute $15,000 a year — up to a maximum of $529,000 into an ABLE account and still maintain such benefits as Medi-Cal and CalFresh. Those who wish to remain eligible for SSI can contribute the annual $15,000, and can deposit up to $100,000, into an ABLE account without the funds counting as assets.

Joining Treasurer Chiang at the two news conferences will be Treasurer-elect and Board of Equalization Member Fiona Ma; State Senator Bill Dodd; Assemblymember Jacqui Irwin; representatives of different stakeholder and disability advocacy groups, including the ABLE National Resource Center, the World Institute on Disability, and the Coelho Center for Disability, Law, Policy, and Innovation; as well as members of the disability community, who plan to sign up for CalABLE.

Calendar of Events

EVENT: CalABLE Northern California Launch
WHO:
  • Treasurer John Chiang
  • State Senator Bill Dodd
  • Alex Ghenis, Policy and Research Specialist, World Institute on Disability
  • Miranda Kennedy, Director, ABLE National Resource Center
  • Disability advocates and future CalABLE enrollees
WHEN: Today, December 18, 2018 at 10:30 AM
WHERE: Ed Roberts Campus Atrium
3075 Adeline
Berkeley, CA 94703

EVENT: CalABLE Southern California Launch
WHO:
  • Treasurer John Chiang
  • Treasurer-elect and Board of Equalization Member Fiona Ma
  • Assemblymember Jacqui Irwin
  • Katherine Perez, Executive Director, Coelho Center for Disability Law, Policy, and Innovation
  • Stephen David Simon, Executive Director, LA Department on Disability
  • Disability advocates and future CalABLE enrollees
WHEN: Wednesday, December 19, 2018 at 10:30 AM
WHERE: Loyola Law School
Burns Lounge
919 Albany Street
Los Angeles, CA
Live Streaming: Both news conferences are scheduled to be carried via Facebook Live on Treasurer Chiang’s STO Facebook page: https://www.facebook.com/CaliforniaSTO/

**Opened to credential press only**


For more news, please follow the Treasurer on Twitter at @CalTreasurer, and on Facebook at California State Treasurer's Office.