A bill to amend the Internal Revenue Code to allow employers to contribute to ABLE accounts in lieu of retirement plan contributions.
ABLE Employment Flexibility Act
This bill permits employers to make tax-exempt contributions to ABLE (Achieving Better Life Experience) accounts in lieu of making contributions to existing tax-exempt defined contribution retirement plans. An ABLE account pays the expenses (e.g., food, education, housing, transportation, employment training and support, and health care expenses) of a designated beneficiary who is disabled.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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