“We are thrilled that the Special Needs Trust Improvement Act was signed into law as a part of the recently passed 1653-page Consolidated Appropriations Act, 2023 (a.k.a. Section 337 of Secure 2.0),” said SNA Board President James A. Caffry, Esq. “We are excited to announce that with the passing of this law, there shouldn’t be any ambiguity; most charities can now be named as a remainder beneficiary of a Special Needs Trust receiving retirement assets. This is a huge win for families wanting to support both their loved ones and nonprofit organizations providing critical support to the disability community. Once the SECURE Act was passed in 2019, our Public Policy committee committed itself to make this change. We thank all who worked tirelessly with us to ensure the passing of this vital law.”
Initially introduced by Senators Todd Young (R-IN) and Maggie Hassan (D-NH) as an essential part of the Enhancing American Retirement Now (EARN) Act, the law is designed to empower individuals with disabilities and their families to financially support some of the charitable organizations that provide them with critical services (without a higher tax cost during the life of the person) using a Special Needs Trust to manage their expenses and benefits. The SNA is also indebted to Representatives Brad Schneider (D-IL) and the late Jackie Walorski (R-IN) for introducing the Special Needs Trust Improvement Act in the House of Representatives, and to The Arc and The Arc of Indiana for their critical support.
The 143 members of the SNA have an average of 18 years of relevant legal experience advocating for individuals with disabilities and family caregivers struggling to provide care to loved ones with disabilities, as well as serve as family caregivers of their own loved ones with disabilities.