Thomas Foley

Executive Director, National Disability Institute

“National Disability Institute (NDI) is the first and only disability organization in the United States that works exclusively on issues of economic and financial inclusion, and we are a Ford grantee. We know that people with disabilities can work, build wealth, and secure strong financial futures for themselves and for their families, despite the extra costs of living with a disability. We support this through policy work, research, community demonstrations, and targeted programs.

One transformative financial opportunity we see for people with disabilities is the establishment of 530A accounts in the United States, one of the largest financial investments in children and people with disabilities to date. Under this pilot program, every child born between 2025 and 2028 receives a $1,000 federal investment; we estimate this will reach 1.2 million children, representing a $6.6 billion financial investment in disabled youth across the country. These 530A accounts can also be rolled into ABLE tax-advantaged accounts starting at age 17. ABLE accounts allow people with disabilities to save money without jeopardizing their eligibility for essential daily support programs like Medicaid and Social Security.

NDI and dozens of partners worked tirelessly to help craft language in the statute ensuring that, at age 17, the entire amount can seamlessly transfer into an ABLE account. This offers an unprecedented entry point for children with disabilities into the financial mainstream, sparking early engagement with their financial futures. In fact, even without adding another dollar to that initial $1,000, historic S&P 500 average returns could allow it to grow to approximately $5,500 over 17 years. 

People with disabilities can work, save, and succeed. When we get the policies and programs right, we give everyone the chance to bring their talent, resilience, and ambition to the table.”

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