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This marks Vestwell's twentieth ABLE program partnership and makes the firm the largest ABLE program provider in the country. With this partnership, Vestwell will assume administration for the program and provide Californians with disabilities a digital platform and a seamless way to save without losing their federal benefits. Vestwell's proprietary platform also streamlines the administration and maintenance of ABLE accounts for organizations, such as service providers, professional guardians, or representative payees, making it easier to expand the reach of this program.
"CalABLE is an essential program for thousands of Californians with disabilities that need a tax benefit to help offset the added expenses that can come with having a disability," said Aaron Schumm, founder and CEO of Vestwell. "With the recent passing of the ABLE Age Adjustment Act under SECURE 2.0, we expect significant growth of these savings programs, with another six million Americans with disabilities who are now eligible to save through the ABLE programs. We're incredibly proud to support more Californians with access to these life-changing accounts."
