11-18-2025 NC Able and Increasing Financial Security of Individuals with I/DD

Description:

The presentation focuses on the ABLE account eligibility, account features and benefits of owning an ABLE account.  ABLE accounts provide tax- advantaged savings and investment accounts for people living with a disability without jeopardizing other means-tested public supports.

Learning Objectives:

By end of the program, participants will be able to:

1. Describe at least two barriers to people with disabilities being financially secure.
2. Name at least three benefits an ABLE account provides to those with the disability.
3. Describe at least two ways in which an ABLE can be used to benefit the Account Owner.

Trainers:

Jeff Hancock, CRSP, CMFC, AIF joined the Department of State Treasurer in May 2021 to lead the Supplemental Savings Programs group including: NC 401(k) Plan and NC 457 Plan, and the NC ABLE Program.  Prior to joining the Department of State Treasurer, Jeff worked with BB&T (now Truist) for over 28 years. As division head for Retirement and Institutional Services, Jeff provided leadership for all aspects of the division including Retirement Services, Investment Advisory Services, Corporate Trust Services, and the Mortgage Document Custody group.

Christy Farrelly serves as the Communications Manager in the Retirement Services Division at the Department of State Treasurer.  Christy also serves on the North Carolina Financial Literacy Council. Christy has worked to build partnerships with families, nonprofits, and corporate partners to grow the NC ABLE program and make it more accessible for families across NC.

NC Treasurer Bradford B. Briner was sworn into office on January 1, 2025. Mr. Briner graduated from the University of North Carolina at Chapel Hill as a Morehead Scholar with a degree in economics with distinction. Mr. Briner also received an MBA with distinction from Harvard Business School.

References:

• Batavia, A.I. and R. Beaulaurier. 2001. “The Financial Vulnerability of People with Disabilities: Assessing Poverty Risks.” The Journal of Sociology & Social Welfare 28: 139–62.
• Brucker, D.L., S. Mitra, N. Chaitoo and J. Mauro. 2015. “More Likely to be Poor Whatever the Measure: Working-Age Persons with Disabilities in the U.S.” Social Science Quarterly 96(1): 273–96.
• McGarity, S. V., & Caplan, M. A. (2018). Living outside the Financial Mainstream: Alternative Financial Service Use among People with Disabilities. Journal of Poverty, 23(4), 317–335. https://doi.org/10.1080/10875549.2018.1555731