Pennsylvania State Treasurer Stacy Garrity visited a Beaver Meadows company Friday afternoon to highlight the PA ABLE Savings Program for people with disabilities.

She chose CTC Manufacturing because the nonprofit employs and trains people who are disabled.

Garrity said the program has been around for more than five years, but not everyone is aware of it. The program allows Pennsylvanians with disabilities and their families a tax-advantaged way to save without affecting eligibility for means-tested benefits such as Supplemental Security Income or medical assistance.

“PA ABLE is a fantastic savings program that offers many tax advantages,” Garrity said. “Saving with PA ABLE allows people with disabilities, like the employees at CTC, to improve financial independence by providing a way for them - and their families - to save their hard-earned money without losing critical benefits, something that was once impossible to do.”

CTC’s Chief Executive Officer Christine Mayernick led Garrity on a tour of the facility, which focuses on packaging, commercial sewing, apparel sales and detailing.

Garrity spoke to employees, asking them what they do and for how long they have been employed.

One woman told Garrity that she has been part of the team for 32 years.

“You must have started when you were a baby,” Garrity joked.

Another employee asked Garrity for an autograph and took a selfie with her. She gave him a special pin from the treasury department.

CTC board members Maureen Donovan and John Quarmley also discussed PA ABLE with Garrity. Donovan noted that CTC has scheduled webinars to learn more about it and other programs that could benefit CTC and its employees.

More than 6,000 Pennsylvanians have opened PA ABLE accounts and saved more than $70 million. PA ABLE account owners can choose from six investment options or an interest-bearing checking account to save for short- or long-term disability-related expenses. Qualifying expenses include groceries, rent, health care, assistive technology, vehicle modifications and more.

Account owners benefit from tax advantages including no federal or state income tax owed on earnings or qualified withdrawals; Pennsylvania state income tax deduction on up to $16,000 annually; and exemption from Pennsylvania state inheritance tax.

Federal ABLE legislation, championed by U.S. Sen. Bob Casey in 2014, allowed for states to create ABLE programs. PA ABLE was enacted in 2016 with instrumental support from state Sen. Lisa Baker and former state Rep. Bernie O’Neill.

For more information, visit paable.gov, email info@paable.gov or call 855-529-2253