State Treasurer Folwell celebrates 10-year anniversary of the Achieving A Better Life Experience (ABLE) Act with Krispy Kreme Partnership

NC ABLE announces partnership with Krispy Kreme in its first official corporate benefit offering as legislation introduced by former U.S. Sen. Richard Burr reaches important milestone on Dec. 19.

Raleigh, NC

Dec 18, 2024

In honor of the 10^th anniversary of the ABLE Act, State Treasurer Dale R. Folwell, CPA, announces a partnership between NC ABLE and the iconic North Carolina sweet-treat brand, Krispy Kreme. This represents the first offering of the NC ABLE Program as a workplace benefit at a national corporate level and is available to all eligible Krispy Kreme employees and their families.

Before the ABLE Act, working and saving was a near impossibility for those living with a disability. Many rely on means-tested benefits that require poverty-level assets. The NC ABLE Program breaks this disability poverty trap and provides a path to financial independence with tax-advantaged savings and investment accounts that do not count as assets in qualifying and maintaining public supports. In 2025, eligible individuals and their families can save $19,000 a year, and up to $34,060 as a working individual.

"One of the best outcomes for a person with a disability is to join their community in a working capacity, earn a paycheck and expand their horizons and opportunities with co-workers and supervisors. I applaud Krispy Kreme for incorporating this benefit and being a steadfast leader in promoting and providing an inclusive workplace," said Treasurer Folwell. "Together, Krispy Kreme and NC ABLE are helping to provide the experience of achievement along with the opportunity for upward mobility."

Coinciding with this partnership, Krispy Kreme and NC ABLE collaborated with Franklin Academy High School (FAHS) in Wake Forest. Students were charged with developing internal promotional resources for Krispy Kreme locations. "It is so important for students to have 'real-world' professional experiences, and this was as good as it gets," said Steve Msarsa, award-winning graphic designer and instructor at FAHS. "Students are not only learning about the NC ABLE Program, but they also have this tremendous opportunity to discover what is behind the brand of Krispy Kreme and develop a creative campaign from start to finish."

The Sweeten Your Future with NC ABLE campaign raises awareness and promotes this benefit offering to Krispy Kreme employees and their families.

As of Nov. 30, 2024, the NC ABLE Program surpassed $32 million in assets across 2,700 accounts with an average account balance of nearly $13,000. The money can be used for qualified disability expenses such as housing, cell phones, adaptive equipment, transportation and virtually any other item that will help the account holder achieve a better life experience.

The Department of State Treasurer (DST) administers NC ABLE (Achieving a Better Life Experience), and the Treasurer chairs its Board of Trustees. The program allows individuals of all ages with the occurrence of disability prior to the age of 26 (increasing to age 46 in 2026) and their families to contribute to savings accounts that can grow tax-free. The accounts can fund essential disability services and qualified expenses without endangering benefit eligibility. U.S. Sen. Richard Burr, R-N.C., introduced the bipartisan Achieving a Better Life Experience Act in Congress in 2011. The legislation was needed, he said at the time, because "families of individuals with disabilities often face overwhelming financial burdens associated with the expensive costs of health care, education, housing and transportation." North Carolina followed suit when the NC ABLE Act was signed into law in 2015. To learn more about NC ABLE Program, visit https://ncable.nc.gov/.

Related Topics:

• NC ABLE News Release
• Treasurer Folwell Administration Press Releases

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