Exempts individual retirement accounts from being counted as a resource for public assistance and prohibits the state from being a creditor against.

Rhode Island H7687 amends the Public Assistance Act to exempt individual retirement accounts from being counted as a countable resource for public assistance eligibility. Additionally, it prohibits the state from acting as a creditor against an ABLE account in the event of the beneficiary's death. This change aims to protect retirement savings and ensure that ABLE account funds are not seized to pay debts after the beneficiary's passing.

Exempts individual retirement accounts from being counted as a resource for public assistance and prohibits the state from being a creditor against.

Rhode Island H7687 amends the Public Assistance Act to exempt individual retirement accounts from being counted as a countable resource for public assistance eligibility. Additionally, it prohibits the state from acting as a creditor against an ABLE account in the event of the beneficiary's death. This change aims to protect retirement savings and ensure that ABLE account funds are not seized to pay debts after the beneficiary's passing.