Achieving a Better Life Experience (ABLE) accounts are tax-free accounts that can be used for expenses of disabled individuals. They can be created by a disabled person or his or her family members or guardians. This article explains eligibility factors and other pertinent details. A sidebar notes an ABLE account’s impact on Supplemental Security Income.
Nonqualified deferred compensation plans allow participants to set aside large amounts of tax-deferred compensation, but also pose substantial risks. This article distinguishes NQCD plans from qualified defined contribution plans and discusses the pros and cons.