Lincoln, Neb. (February 23, 2016) – Nebraska State Treasurer Don Stenberg and First National Bank of Omaha today announced the upcoming national launch of the Enable Savings Plan. Slated to become available nationwide this summer, the Enable Savings Plan provides individuals with disabilities the opportunity to save for their future in tax-free savings accounts, as well as the ability to pay for everyday expenses. The goals of the Plan are to provide an affordable, simple, and straightforward way to help individuals with disabilities move towards financial independence.
Enable is a product of the federal Achieving a Better Life Experience Act (ABLE) of 2014. With the launch of Enable, Nebraska is expected to be one of the first states to offer a nationwide ABLE plan sold directly to the public.
"We are proud to be one of the first states to lead the way in the implementation of an ABLE program," said Nebraska State Treasurer Don Stenberg. "Working with the disability community to construct Enable, we’ve seen how eager families are to enroll. Enable's nationwide option puts us one step closer to ensuring individuals with disabilities are provided the financial security they need and deserve."
To reach families across the country, Enable also will be available to contract with other states.
Nebraska's Enable Savings Plan includes a number of key attributes:
- Risk-based growth, moderate and conservative allocation investment options
- An FDIC-insured bank savings option
- Check writing option with debit card capability
- Affordable cost
- Fully ADA compliant website and call center
"Over a nine-month period, we worked closely with individuals with disabilities to design a plan that would best serve the larger community's needs, goals, and dreams for the future" said Deborah Goodkin, Managing Director, College Savings Plans, First National Bank of Omaha, and Program Manager for Enable. "The heart of Enable is the fact that the plan was created with members of the disability community, not for them.”
Enable is a tax-advantaged savings plan to help make saving simple and affordable for individuals with disabilities. The Nebraska State Treasurer serves as Program Trustee. First National Bank of Omaha serves as Program Manager, and investments are approved by the Nebraska Investment Council. Visit EnableSavings.com and treasurer.nebraska.gov for more information.
About First National Bank of Omaha
First National Bank of Omaha is a subsidiary of First National of Nebraska. First National of Nebraska is the largest privately owned banking company in the United States. First National and its affiliates have $20 billion in assets and 5,000 employee associates. Primary banking offices are located in Nebraska, Colorado, Illinois, Iowa, Kansas, South Dakota and Texas.
Investments Are Not FDIC Insured* No Bank, State or Federal Guarantee May Lose Value
*Except the Bank Savings Individual Investment Option