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New England News

Vermont To Launch Tax-Free Savings Program For The Disabled

Vermont's treasurer says the state will soon launch a tax-free savings program for residents with disabilities.
State Treasurer Beth Pearce says the disabled have been precluded from effectively saving in the past because asset limits cause them to lose access to much-needed assistance.

Pearce tells The Times Argus says the VT-ABLE savings plan was created under the Achieving a Better Life Experience Act, signed by former President Barack Obama.

Under the program, Vermonters can save up to $14,000 annually on expenses related to their disability and as much as $426,000 during their lifetime.

VT-ABLE is expected to roll out in the next few months. The program will be administered through a partnership with the Ohio State Treasurer's Office.

Copyright 2017 The Associated Press. All rights reserved.