NY ABLE Helps Qualified NYers with Disabilities Save Tax-Free

New York Office of State Comptroller sent this bulletin at 06/10/2023 07:00 AM EDT

NY ABLE Helps Qualified NYers
with Disabilities Save Tax-Free

As State Comptroller, I am proud to administer New York’s ABLE program, which helps qualified New Yorkers with disabilities save tax-free without impacting Social Security, Medicaid or other government benefits. Funds saved in a NY ABLE account can help cover qualified disability-related expenses, such as education, housing, transportation and much more. In addition, with a NY ABLE account, you get the flexibility to decide how and how much you’d like to contribute.

NY ABLE may be able to help you or a loved one achieve more independence, greater financial security and a better quality of life. Find out about the NY ABLE Savings Program, including tax benefits and other considerations.

Learn More

Pension Fund Reports Growth
in MWBE Manager Investments

The New York State Common Retirement Fund (Fund) is an industry leader in several areas, including its support of diversity and inclusion. As trustee of the Fund, I’m committed to ensuring that MWBEs are afforded an equitable opportunity to participate in the Fund’s procurements of goods and services and asset management. According to the Annual Minority- and Women-Owned Business Enterprise (MWBE) Report released by my office, the Fund now has approximately $31.5 billion invested with or committed to MWBEs. This is a 2% year-over-year improvement and represents 22% of all Fund investments handled by outside managers. In addition, the Fund’s commitments to the Emerging Manager program, which seeks to identify emerging managers, increased by 7% to $10.2 billion.

Read the Report

Annual Reports on Contracting
With State Agencies

Not-For-Profits (NFPs) and contractors doing business with New York State should be paid in a timely manner. To highlight how well State agencies are doing in executing contracts timely and making payments within required timeframes, my office issues annual reports on both. A link to each report is below.

Not-For-Profit Prompt Contracting – 2022 Calendar Year

Prompt Payment Interest Report – SFY 2022-23