The Internal Revenue Service has issued a Notice of Proposed Rule-Making (NPRM) on ABLE accounts. ABLE accounts will allow contributions to accounts to help disabled individuals drawing Supplemental Security Income, which is administered by the Social Security Administration. These regulations as well as new state statutes are needed so that ABLE accounts can be established.
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One aspect of the ABLE Act that does not seem to have gotten much coverage: it raises the age until which DIB benefits are offset by workers' compensation from 65 to the full retirement age. This will have a significant impact on some DIB recipients who settled workers' compensation claims under the old rules.
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