Treasurer Stacy Garrity and Senator John DiSanto Announce Legislation to Automatically Return Unclaimed Property

Treasurer Garrity Announces Fee Reduction for PA ABLE Account Owners

Harrisburg, PA - Pennsylvania Treasurer Stacy Garrity today announced PA ABLE (Achieving a Better Life Experience) Savings Program account owners will see a lower annual account maintenance fee on their April statements. The fee reduction is the result of the National ABLE Alliance surpassing 35,000 funded ABLE accounts.

“ABLE accounts are powerful tools to help people with disabilities save for a secure financial future and to live more independently. It’s great to see more and more people taking advantage of the great benefits that come with saving with ABLE. The commitment of people to save for the future makes ABLE programs more affordable for everyone. I’m proud of PA ABLE’s remarkable growth.”

Pennsylvania State Treasurer, Stacy Garrity

PA ABLE is a tax-free way for Pennsylvanians to save for disability-related expenses while maintaining important benefits, such as Supplemental Security Income (savings up to $100,000) and Medical Assistance.

The first PA ABLE account was opened in 2017. PA ABLE now has more than $87 million in assets – money saved by nearly 7,400 account owners to help pay for disability-related expenses. In 2022 alone, PA ABLE assets increased by nearly $12 million. PA ABLE is the largest program in the 18-member National ABLE Alliance and accounts for about 25 percent of total Alliance assets.

After the $1 fee reduction, PA ABLE annual account maintenance fees are now $33 for those who receive statements electronically and $58 for those who choose to receive paper statements. This is the third time that PA ABLE fees have been reduced since Treasurer Garrity took office.

“Like our parents taught us, every dollar matters. I will keep pushing to reduce fees and make PA ABLE an even better program for people with disabilities.”

Pennsylvania State Treasurer, Stacy Garrity

PA ABLE has seven investment options to choose from and allows for up to $17,000 in savings annually. No federal or state income tax is paid on account growth when used for qualified expenses. Funds are easy to access and may be used for a wide range of expenses, such as healthcare, housing, education, assistive technology, adaptive vehicles and much more.

States were authorized to create ABLE programs with the passage of federal ABLE legislation in 2014. PA ABLE was enacted in 2016 with leadership from Sen. Lisa Baker; the first PA ABLE account was opened the following year.

In December, Congress passed the ABLE Age Adjustment Act which will expand ABLE account access to millions more Americans, including nearly one million veterans. Currently, to be eligible to save with an ABLE program, a person’s disability must have an onset date prior to their 26th birthday. With the ABLE Age Adjustment Act, that age increases to 46 starting in 2026.

Treasurer Garrity is the inaugural chair of the National ABLE Savings Plan Network, a part of the National Association of State Treasurers (NAST).

Visit or call 855-528-ABLE (2253) to learn more about program eligibility and how to start saving with PA ABLE.

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