A bill to amend the Internal Revenue Code to allow employers to contribute to ABLE accounts in lieu of retirement plan contributions.

Bill 118 s 4911, also known as the ABLE to Work Act, is a proposed amendment to the Internal Revenue Code that would allow employers to contribute to Achieving a Better Life Experience (ABLE) accounts for their employees in place of traditional retirement plan contributions. ABLE accounts are tax-advantaged savings accounts for individuals with disabilities and their families to save for disability-related expenses.

The bill aims to provide individuals with disabilities the opportunity to save for their future while also allowing employers to support their employees in a meaningful way. By allowing employers to contribute to ABLE accounts, individuals with disabilities may have additional financial resources to cover expenses related to education, housing, transportation, and other disability-related costs.

If passed, the ABLE to Work Act would provide a new avenue for individuals with disabilities to save for their future and potentially reduce their reliance on government assistance programs. Additionally, it would give employers the opportunity to support their employees in a unique and impactful way. Overall, the bill seeks to promote financial independence and security for individuals with disabilities while also providing employers with a new option for supporting their employees' financial well-being.