TROY — RT Industries has become only the second organization in the nation to offer employees with disabilities a direct savings option through STABLE accounts.
STABLE accounts, administered through the Treasurer of the State of Ohio’s office, empower individuals with disabilities the opportuniy to save and invest money without losing eligibility for public benefits programs.
“Any person with a developmental disability who has a waiver can only have so much money in their account at one time, and for most people, it’s a $2,000 maximum.” said Ashley Brocious, CEO at RT Industries. “If somebody has a 401k plan, that’s actually going toward that $2,000, which means a person could be at risk of losing their waiver or their Medicaid benefits. The STABLE account allows you to have money in a separate location that doesn’t cause you to lose the funding you have.”
Employees who use the STABLE account option will be able to open their own account online and fund it with an initial deposit of $50, and then begin to save and invest tax-free for disability-related expenses. As it does with 401k options, RT Industries will offer up to a two percent match of employee earnings through STABLE accounts.
Five different investment options are available, including four mutual fund-based investments and one FDIC-insured investment.
Front desk administrative assistant Taylor Hinkle, who has been employed with RT Industries for seven years, was among the first at RT Industries to maintain a STABLE account and insists that it has been a positive experience thus far.
“My parents are saving for retirement, and I want to do the same thing,” Hinkle said. “This allows me to save like everyone else for my long-term expenses.”
RT Industries hosted two orientation sessions for RT Industries’ employees and their families on Thursday, May 24, to help them better understand the benefits of STABLE accounts.
“RT Industries is passionate about equipping all of our employees with the knowledge and tools to accomplish their career goals,” Brocious said. “It’s such a new concept to some people, and we hope this has helped to better educate and provide understanding on the options that are available.”
RT Industries is a non-profit corporation with the mission to promote the employment of people with disabilities by actively developing business partnerships, so people can experience a variety of work settings and contribute to the business needs of Miami County.
For more information, visit www.stableaccount.com or www.rtindustries.org.