A nonprofit publication of the Kentucky Center for Public Service Journalism

Allison Ball: STABLE Kentucky is game-changing and life-changing for our citizens with disabilities


During my first year in office, I was approached by a young woman who expressed to me her limited ability to save and invest for her future.

This limitation came not from her own lack of discipline or willingness, but rather from government regulation. As a person with a disability receiving government benefits, she could only save $2,000 at a time without jeopardizing government benefits she received like SSI or Medicaid.

When I launched STABLE Kentucky in December 2016 at no cost to taxpayers, it opened the door for Kentuckians like this woman to save, invest, and be economically mobile.

Allison Ball

With STABLE Kentucky, Kentuckians with disabilities can save and invest over $15,000 annually and over $468,000 over the course of a lifetime. The federal ABLE Act also made these accounts tax-free at the federal level.

This means that with a STABLE Kentucky account, Kentuckians with disabilities can now save nearly eight times more money per year than they could previously save at all without jeopardizing benefits.

STABLE Kentucky has transformed saving and investing for people with disabilities.

As a strong proponent of financial empowerment, I have continued to work to build upon STABLE Kentucky since its launch. That is why I advocated for these accounts to be tax-free in Kentucky and to allow funds to be rolled over from a traditional 529 account to a STABLE Kentucky account. Both of these measures enjoyed bipartisan support and are now law.

Further, after Congress passed ABLE to Work legislation allowing eligible employed account holders to save an additional $12,140 per year, I created Friends of STABLE Kentucky to encourage Kentucky employers to embrace this new advancement. Friends of STABLE Kentucky highlights employers who provide equal employment opportunities, demonstrate knowledge of STABLE Kentucky accounts, have at least one employee with a STABLE Kentucky account, and provide a direct deposit mechanism that employees can use to contribute to a STABLE Kentucky account.

As we begin approaching the third anniversary of STABLE Kentucky’s launch, I believe there is much to celebrate about STABLE Kentucky. To open a STABLE Kentucky Account, please visit www.stablekentucky.com.

Business owners can also apply to be a Friend of STABLE Kentucky at www.treasury.ky.gov.

Allison Ball is Kentucky State Treasurer.


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