Saturday, March 20, 2021

David McRae: ABLE to Save

 Mr. McRae is the State Treasurer of Mississippi.  He submitted this guest column.

More than one in three Mississippi adults live with some kind of disability, well above the national average of 25 percent. For many of these families, the disabilities come with added expenses, such as higher health care, housing, and transportation costs.

In fact, Mississippians spend $4.5 billion annually on disability-related health care expenses alone, according to the Centers for Disease Control and Prevention. As a result, many with disabilities rely on social safety net programs to help cover those health care expenses, as well as basic costs like food and housing. 

But prior to 2014, the receipt of such assistance meant beneficiaries were limited when it came to putting money away in savings. The limits were strict. Just $2,000 in savings could disqualify someone from receiving necessary support.

In the end, many with disabilities were forced to remain in poverty just to receive the public benefits they required. In December 2014, however, things changed. Congress passed the ABLE Act, giving thousands of Mississippi families a path to greater financial stability.

Today, those with disabilities and their families can set up an ABLE account, which allows them to save money without jeopardizing necessary benefits. These are tax-advantaged accounts that can be used to pay for disability-related expenses, including education, housing, transportation, employment training and support, assistive technology, personal support services, health care expenses, financial management, administrative services, and more.

To be eligible for an ABLE account, the disability’s onset must have occurred before the beneficiary turned 26 years old. If you or your loved one meet that criteria and receive SSI or SSDI benefits, you are automatically eligible to open an ABLE account. Even if you don’t meet those criteria, you might still be eligible, but additional paperwork will be necessary before enrolling.

Once you’ve opened an ABLE account, the beneficiary, as well as their family and friends, can contribute to it. Then, families or the beneficiaries themselves get to choose how the money is invested, giving you the opportunity to grow your savings over time.

If you believe an ABLE account would benefit you or a family member, please visit Treasury.MS.gov/ABLE to learn more or call my office at (601) 359-3600. We are ready to help more Mississippians become ABLE to save.


9 comments:

Anonymous said...

This is nice, but even nicer would be him "fixing" PERS.

Anonymous said...

More importantly, I’d like to know how many Mississippians are fraudulently getting a disability check? Just because you had an injury doesn’t mean you can’t work and provide for yourself. I believe many people are ripping off this system and are simply collecting a check.

Ignorance Abounds said...

1:32 - the State Treasurer never has had shit to do with saving PERS. What gave you that notion? The Treasurer has nothing to do with disability either, 2:07.

Anonymous said...

4:01, please provide any references and cites that you have that say that he cannot weigh in on regarding either of those issues.

Anonymous said...

5:58 - Anybody can 'weigh in' on either or both issues. The comments were 'fixing' PERS and people 'ripping off' disability. The Treasurer neither has the ability to 'fix' PERS or to deal with disability rip-offs. If you think differently, please provide your own 'cites'.

Anonymous said...

The State Treasurer is on the PERS board. He contracts with a temp agency to provide contract labor. My question is why does he not fill the vacant PINS that he has for his agency. At least, if the PINS were filled, they would be paying into PERS. We have far to many state employees retiring and then coming back on contract at half salary and half hours and drawing their retirement pension! They are a number of state agencies doing this- the Legislature should put a stop to this madness!

Anonymous said...



Black Angus breeder says..... grow a set and bid out PERS to producers not posers!

Anonymous said...

7:46 - Are you familiar with the employer's amount due and payable every time a PIN is filled?

Anonymous said...

Yes - it is included with that FY budget and includes all amounts associated with the PIN. What these agencies are doing is taking that money and paying a temp agency about $15.00 per hour. The remainder of the money can be used for other things, such as furniture, other salary increases, etc. I understand that McRae rarely comes into the office. Last I heard, they were still working about four hours a day because of COVID. Be curious to see the Audit report from the Department of Audit. They can’t even balance the state’s monies!


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Trollfest '07 was such a success that Jackson Jambalaya will once again host Trollfest '09. Catch this great event which will leave NE Jackson & Fondren in flames. Othor Cain and his band, The Black Power Structure headline the night while Sonjay Poontang returns for an encore performance. Former Frank Melton bodyguard Marcus Wright makes his premier appearance at Trollfest singing "I'm a Sweet Transvestite" from "The Rocky Horror Picture Show." Kamikaze will sing his new hit, “How I sold out to da Man.” Robbie Bell again performs: “Mamas, don't let your babies grow up to be Bells” and “Any friend of Ed Peters is a friend of mine”. After the show, Ms. Bell will autograph copies of her mug shot photos. In a salute to “Dancing with the Stars”, Ms. Bell and Hinds County District Attorney Robert Smith will dance the Wango Tango.

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Donna Ladd of The Jackson Free Press will give several classes on learning how to write. Smearing, writing without factchecking, and reporting only one side of a story will be covered. A donation to pay their taxes will be accepted and she will be signing copies of their former federal tax liens. Ms. Ladd will give a dramatic reading of her two award-winning essays (They received The Jackson Free Press "Best Of" awards.) "Why everything is always about me" and "Why I cover murders better than anyone else in Jackson".

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Trollfest '09 is a pet-friendly event as well. Feel free to bring your dog with you and do not worry if your pet gets hungry, as employees of the Jackson Zoo will be on hand to provide some of their animals as food when it gets to be feeding time for your little loved one.

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This is definitely a Beaver production.


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Jackson Jambalaya is the home of Trollfest '07. Catch this great event which promises to leave NE Jackson & Fondren in flames. Sonjay Poontang and his band headline the night with a special steel cage, no time limit "loser must leave town" bout between Alan Lange and "Big Cat"Donna Ladd following afterwards. Kamikaze will perform his new song F*** Bush, he's still a _____. Did I mention there was no referee? Dr. Heddy Matthias and Lori Gregory will face off in the undercard dueling with dangling participles and other um, devices. Robbie Bell will perform Her two latest songs: My Best Friends are in the Media and Mama's, Don't Let Your Babies Grow up to be George Bell. Sid Salter of The Clarion-Ledger will host "Pin the Tail on the Trial Lawyer", sponsored by State Farm.

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If you get tired come relax at the Fox News Tent. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both will entitle you to free drinks.Get your tickets now. Since this is an event for trolls, no ID is required, just bring the hate. Bring the family, Trollfest '07 is for EVERYONE!!!

This is definitely a Beaver production.

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