PA Treasurer Garrity Announces Expanded Access to PA ABLE

Pennsylvania Treasurer Stacy Garrity announced that starting Jan. 1, 2026, Pennsylvanians with a disability that started prior to the age of 46 will be eligible to save through the PA ABLE (Achieving a Better Life Experience) Savings Program. Prior to this coming expansion, participation in the program was limited to those whose disability occurred prior to the age of 26.

PA ABLE accounts provide Pennsylvanians with disabilities, and their families, the opportunity to save money tax-free without impacting important benefits. Thanks to the ABLE Age Adjustment Act, ABLE accounts will now be accessible to six million more Americans, including one million Veterans.

“This significant expansion of eligibility to save with PA ABLE will usher in an era of greater financial independence and security for more of our friends and family members living with disabilities,” Treasurer Garrity said. “By broadening access to PA ABLE, we are helping to ensure that everyone has the opportunity to flourish – a vision that was unattainable before ABLE programs.”

In 2014, federal legislation authorized states to establish ABLE programs, with Pennsylvania opening its first PA ABLE account in 2017 following the passage of legislation championed by Sen. Lisa Baker (R-20). Since then, the program has grown to become the fifth largest program in the country with over 11,500 accounts and more than $180 million saved.

PA ABLE offers a variety of investment options including a checking account where contributions grow tax-free, and withdrawals for qualified disability expenses are also free from state and federal taxes. Qualified expenses include a wide range of items such as rent, healthcare, groceries, assistive technology, vehicle modifications and much more.

Up to $19,000 in contributions to a PA ABLE account can be deducted from Pennsylvania income taxes annually. PA ABLE assets are also exempt from state inheritance tax.

New this year, anyone can contribute to a loved one’s PA ABLE account by purchasing an online gift card to be redeemed into an account, or making a gift directly through the Ugift platform with a code shared by the account owner. To learn more visit paable.gov/gift.

“PA ABLE accounts have already made a meaningful difference in the lives of so many Pennsylvanians,” Treasurer Garrity said. “I encourage everyone to explore how this financial tool can provide security and stability for themselves or their loved ones”

Since taking office, Treasurer Garrity has reduced PA ABLE account fees six times. She was a strong advocate for the ABLE Age Adjustment Act, and the inaugural chair of the ABLE Savings Plans Network which works to strengthen ABLE programs on a national level.

To learn more about program eligibility and how to start saving with PA ABLE, visit paable.gov, email info@paable.gov or call 855-529-2253.

Treasurer Garrity Commends Improvements in Unclaimed Property Program

Treasurer Stacy Garrity commended the General Assembly for the passage of House Bill 1176 which improves the state’s unclaimed property program. The program is administered by the Pennsylvania Treasury Department (Treasury).

HB 1176, sponsored by Rep. Joe Ciresi (D-146), allows eligible heirs to submit a notarized affidavit for claiming property valued at up to $20,000. The previous limitation was $11,000. This change will simplify the process for many claimants, making the return of unclaimed property easier, less cumbersome and less expensive.

“HB 1176, which I advocated for, allows us to further streamline the unclaimed property program, eliminating red tape that has long prevented Pennsylvanians from easily claiming what is rightfully theirs,” said Treasurer Garrity. “I’m pleased by the tremendous bipartisan support for this measure, which will simplify the unclaimed property process – the bottom line is that Pennsylvanians shouldn’t have to jump through hoops to get property that rightfully belongs to them.”

The new legislation also increases the limit that can be paid to living heirs from a financial institution without the need for probate from $10,000 to $20,000.

The final change included in HB 1176 allows for the estate of those who die without a will and no living heirs to be passed to a local municipality, school or community foundation in their final county of residence. Prior to this change, these assets would pass to the Commonwealth of Pennsylvania.

Treasury is working to return more than $5 billion in unclaimed property to its rightful owners. More than one in 10 Pennsylvanians are owed unclaimed property, and the average claim is worth more than $1,000. Since taking office, Treasurer Garrity has returned more than $1 billion.

Unclaimed property includes things like dormant bank accounts, uncashed checks, forgotten stocks, insurance policies and much more. State law requires businesses to report unclaimed property to Treasury after three years of dormancy.

Unclaimed property can also include tangible items, such as jewelry or other valuables stored in abandoned safe deposit boxes. Tangible property may be auctioned by Treasury after three years of searching for a rightful owner. All auction proceeds are available in perpetuity for a rightful owner to claim.

To search for unclaimed property, visit patreasury.gov/unclaimed-property.

Treasurer Garrity Announces New Savings Partnership

Pennsylvania Treasurer Stacy Garrity today announced a new partnership between the Pennsylvania Treasury Department and Gift of College that provides family and friends the ability to purchase gift cards for loved ones in their life to support their savings through the PA 529 College and Career Savings Program and the PA ABLE Savings Program.

“I’m excited to expand the ways families can save and encourage others to take part in their savings journey through the Gift of College program,” Treasurer Garrity said. “Providing the option for digital gift card purchases for contributions to PA 529 and PA ABLE is a new, simple and fun way to give the gift of education and more to Pennsylvanians this holiday season.”

“We are thrilled that gift cards for PA 529 and PA ABLE accounts are now available throughout the great Commonwealth of Pennsylvania,” adds Wayne Weber, Gift of College, CEO. “Every gift given is a contribution toward a brighter future.”

Gift of College provides an easy way to give meaningful monetary gifts to loved ones at any time. Gift of College gift cards can be redeemed directly into PA 529 and PA ABLE accounts and are now available for purchase online at pa529.com/gift and paable.gov/gift.

The PA 529 College and Career Savings Program allows families to steadily and strategically save in a tax-advantaged way for qualifying educational expenses no matter what career path a child may take. Saving with PA 529 does not impact a student’s eligibility for PA state financial aid.

Families can choose from the PA 529 Guaranteed Savings Plan (GSP) or Morningstar Gold-Rated PA 529 Investment Plan (IP). The PA 529 IP recently earned its third consecutive Gold Rating from Morningstar, maintaining the program’s status as a top-five 529 plan in the country.

PA ABLE Savings Program accounts provide a tax-advantaged way to save for qualified disability expenses without impacting important benefits. No federal or state income tax is paid on PA ABLE account growth or withdrawals when used for qualified expenses.

Starting in January 2026, PA ABLE eligibility is expanding so eligible individuals of any age can open a PA ABLE account if their disability occurred before age 46.

In addition to Gift of College gift cards, PA 529 and PA ABLE account owners can continue to share their unique Ugift codes with loved ones who wish to help them save in their accounts.

To learn more about Gift of College and Ugift contributions for PA 529 and PA ABLE, visit pa529.com/gift and paable.gov/gift.

Treasurer Garrity Honors Veterans with Military Decoration Returns

Pennsylvania Treasurer Stacy Garrity today announced that 57 military decorations have been returned to Veterans and their families so far in 2025. Returns this year include two Purple Hearts, Treasury’s first-ever Gold Star Widows and Pilgrimage Medal and Civil War buttons and epaulettes.

“As state treasurer, I’m tasked with safeguarding more than $180 billion in state assets, but one of my favorite parts of this job isn’t about the money at all, it’s honoring my fellow Veterans by returning the military decorations that find their way to Treasury’s vault in Harrisburg,” Treasurer Garrity said.

Treasury has a dedicated database to help reunite military decorations with Veterans or their families. There are nearly 500 decorations, including medals, dog tags, pins, buttons and more remaining in Treasury’s care. They represent every branch of military service and nearly every major conflict. Anyone can review the available decorations online at patreasury.gov/unclaimed-property/medals.

“I urge the public to search our military decoration database to see if they have information to help us reunite the priceless decorations in our vault with the Veterans who earned them or their families,” Treasurer Garrity said.

Since taking office, Treasurer Garrity has returned 533 military decorations, including 13 Purple Hearts, three Bronze Stars and one Gold Star Medal.

“This year included incredibly moving in-person returns, including the return of two Purple Hearts, and the Gold Star Medal,” Treasurer Garrity said. “Meeting the families of the Veterans is impactful because they add so many details about the bravery, determination and good character of the Veteran who stood in the defense of our great nation.” 

In April, Treasurer Garrity returned a Gold Star Widows and Pilgrimage Medal to Christine Morrison, the great-niece of Private First-Class Joseph William Morrison.

PFC Morrison was in the 554th Army Ambulance Service during World War I. He was killed in action on November 1, 1918, ten days before the end of the war. His bravery was also recognized by the French government, which awarded him the Croix de Guerre.

The Gold Star Treasury returned had been presented to PFC Morrison’s mother, Agnes Morrison, when she visited the grave of her son in France in 1933. The full return ceremony can be seen here.

On Purple Heart Day, Aug. 7, Treasurer Garrity returned a Purple Heart to James Morgan, the son of the late Ray Alvin Morgan, an Army Veteran who was wounded in the Vietnam War. Private First-Class Morgan served in Company A, 4th Supply and Support Battalion, 4th Infantry. He was presented with the Purple Heart at Valley Forge Hospital during his recovery. The Purple Heart return ceremony, which took place at Fort Indiantown Gap, can be seen here.

“Each medal, pin or button that comes to Treasury is a piece of someone’s story and returning them is a way to honor a Veteran’s service and show our gratitude for their sacrifices. I extend my sincere gratitude and appreciation on this Veterans Day to all Veterans and their families for all they have done for every Pennsylvanian and every American.”

Tangible unclaimed property, like military decorations, finds its way to Treasury most often as the contents of forgotten safe deposit boxes. State law requires unclaimed property to be reported to Treasury after three years of dormancy.

There is also more than $5 billion in unclaimed property, including old bank accounts, checks, rebates, insurance policies and more available to claim. More than one in ten Pennsylvanians has unclaimed property, and the average value of a claim is more than $1,000.

To search for unclaimed property, visit patreasury.gov/unclaimed-property.

Images of military decorations can be found here.

Treasurer Garrity & Special Olympics PA Announce Expanded Partnership

Treasurer Stacy Garrity announced an expanded partnership today between Pennsylvania Treasury’s PA Achieving a Better Life Experience Savings Program (PA ABLE) and Special Olympics Pennsylvania (SOPA) at Villanova University during SOPA’s Fall Festival.

“With this new partnership, we are able to provide additional resource availability and better awareness of the real financial opportunities available for Pennsylvanians living with disabilities through PA ABLE,” Treasurer Garrity said. “We want to reach as many Pennsylvanians with disabilities and their families as possible, so they know about PA ABLE and have access to the tools and opportunities necessary to achieve success and independence.”

SOPA provides year-round sports training and athletic competitions in a variety of Olympic-type sports for children and adults with intellectual disabilities. More than 1,700 athletes, coaches, and Unified Partners will compete in events like powerlifting, bocce, soccer, volleyball, flag football, and long-distance running/walking. 

“We believe in partnerships that go beyond the playing field. Our collaboration with PA ABLE reflects a shared commitment to empowering athletes and their families to build brighter, more secure futures,” said Matt Aaron, President & CEO of SOPA. “Together, we’re helping our community not only compete and achieve in sports but thrive in life.” 

Through this expanded partnership, Treasury and SOPA will work together on outreach and education efforts, ensuring more individuals and families across Pennsylvania learn about the benefits of a PA ABLE account. This partnership will grant Treasury access to SOPA events across the state and allow for PA ABLE branding at SOPA events.

PA ABLE accounts allow Pennsylvanians with disabilities to save tax-free for expenses like housing, education, assistive technology, everyday needs and more – without impacting important benefits.

Currently, to be eligible to save with an ABLE program, a person’s disability must be onset prior to their 26th birthday.

Starting in Jan. 2026, ABLE eligibility will expand to include those whose disability is onset prior to age 46, which would include millions more Americans, including one million Veterans.

“I encourage anyone with a disability or who has a family member or friend with a disability to learn more about what PA ABLE can do for them,” said Treasurer Garrity. 

Since taking office, Treasurer Garrity has reduced PA ABLE account fees six times for PA ABLE account owners. PA ABLE is the fifth largest ABLE program in the country.

To learn more about program eligibility and how to start saving with PA ABLE, visit paable.gov, email info@paable.gov or call 855-529-2253.

Treasurer Stacy Garrity: Money Match Letters Sent

Treasurer Stacy Garrity announced that more than 107,000 letters will be arriving in mailboxes to inform individuals of unclaimed property headed their way through the Pennsylvania Money Match program.

“This is the best kind of mail to send, and I’m thrilled to let Pennsylvanians know that money is coming their way – these letters are real and the checks that will follow are real,” Treasurer Garrity said. “We’re well on our way to returning more than $40 million with Money Match during this first year of the program because this money doesn’t belong to the state, it belongs back in the hands of rightful owners, and Treasury is working nonstop to get the job done.”

Checks will follow this batch of letters and will be mailed to owners in mid-December.

Pennsylvania Money Match, which passed the House and Senate unanimously and was signed into law as Act 81 of 2024, authorizes Treasury to return certain single-owner properties valued up to $500 automatically.

Claims valued at more than $500, that have multiple owners, or other complexities will still need to search, file a claim and provide required supporting documentation.

More than one in ten Pennsylvanians is owed some of the $5 billion in unclaimed property being safeguarded by Treasury. The average value of a claim is more than $1,000.

Unclaimed property includes things such as dormant bank accounts, uncashed checks, forgotten stocks, insurance policies, tangible property like the contents of abandoned safe deposit boxes, and more.

To search for unclaimed property visit, patreasury.gov/unclaimed-property.

If anyone believes they have received a Money Match letter in error, they can contact Treasury at MoneyMatch@patreasury.gov.

Treasurer Stacy Garrity Announces INVEST PA Program Enhancements

New management partnership, Federated Hermes, Inc., will enhance benefits for INVEST PA participants.

Pennsylvania Treasurer Stacy Garrity announced today that Treasury’s INVEST PA program, formerly called INVEST, will see significant positive changes for program participants thanks to the program’s first upgrade in more than 20 years. These enhancements are possible through the hiring of Pittsburgh-based Federated Hermes, Inc., as the new program manager for INVEST PA.

INVEST PA is an investment tool designed specifically for local government entities and nonprofit organizations that has daily liquidity, no minimum balances, no minimum deposits and no limit on the number of transactions that can be made.

“I’m thrilled to announce this new partnership with Federated Hermes that will bring lower fees and anticipated higher yields for INVEST PA participants,” Treasurer Garrity said. “Federated Hermes boasts a long-term track record of providing competitive performance, diligent credit analysis, a transparent framework and a participant-centered service model, and we’re excited to work with them to bring the best results for our local governments and nonprofits that rely on INVEST PA to meet their financial goals and fulfill their missions.”

INVEST PA’s more than 400 participants include municipalities, counties, school districts, fire companies, libraries and many others. In total, participants have $1.4 billion in assets.

There are two INVEST PA pools, the Daily Pool for local government agencies and the Community Pool for nonprofit organizations. Both pools maintain the highest S&P rating, AAAm. There are also periodic custom investment opportunities for longer-term needs.

Investment management services will be provided by Federated Hermes’ wholly owned registered investment advisor subsidiary, Federated Investment Counseling. Federated Hermes’ investment team of more than 140 liquidity and fixed income analysts, portfolio managers, and traders averaging more than 20 years of experience, will provide investment management for both INVEST PA pools.

Through the new management relationship, new and existing INVEST PA participants can expect to experience:

  • Lower fees;
  • Anticipated higher yields;
  • Extended trading hours;
  • New website & interactive portal;
  • Enhanced security features;
  • INVEST PA Academy, providing educational opportunities for participants;
  • More frequent wire distributions;
  • Ability to mail in checks;
  • Enhanced program oversight; and
  • Improved customer service, with dedicated resources for INVEST PA participants. 

“Federated Hermes has a heritage of working with state treasurers to deliver customized investment solutions. With our global headquarters in Pennsylvania, we are honored that the Commonwealth has selected Federated Hermes to manage its investment pools,” said J. Christopher Donahue, president and chief executive officer of Federated Hermes, Inc. “We look forward to continuing to enhance relationships that provide government investment pools with compelling, high-quality liquidity management services.”

To learn more about INVEST PA, click here.

Treasurer Garrity Announces Relief Funding for Children and Most Vulnerable Pennsylvanians

Pennsylvania Treasurer Stacy Garrity announced today that the Pennsylvania Treasury Department will make $500 million available for Pennsylvania’s Head Start providers and county governments through a short-term, investment loan effort designed to ease the financial burden being faced by these entities, which serve Pennsylvania’s most vulnerable populations, due to the lack of an enacted state budget.

“Our most vulnerable Pennsylvanians, especially our children, should not suffer because of ongoing state budget negotiations in Harrisburg,” Treasurer Garrity said. “Pennsylvania’s taxpayers expect their hard-earned tax dollars to be put to work, not be put on hold. We should not stand by and watch Head Start providers and county-level agencies like those that provide mental and behavioral health support struggle to provide necessary services to families relying on them while they wait for a state budget that is nearly three months late. Treasury is here to do its part to bridge the gap until an agreement is reached.”

“We support the Treasurer’s bold leadership for this program that provides an important safety net to ensure counties can continue serving our communities without interruption, even during times of delayed state funding,” said Julie Wheeler, York County President Commissioner & Treasurer, County Commissioners Association of Pennsylvania. “This initiative directly aligns with a resolution CCAP passed at our conference this past summer to support direct deposits from the State Treasury into county accounts.”

“In a time of financial distress for many counties, the Treasury’s offering of short-term, investment loans is a welcomed option,” said Kyle Kopko, Executive Director, County Commissioners Association of Pennsylvania. “The uncertainty surrounding the state budget is putting immense pressure on Pennsylvania counties, and while this new opportunity may provide some relief, our prime emphasis continues to be urging the Governor and General Assembly to work together to finalize a budget without delay.” 

Treasury will make outreach directly to Head Start programs and county governments. Funds will be received within two business days of approval. Those who enter into a loan agreement will be required to pay back the initial Treasury investment plus a 4.5 percent annual interest rate within 15 days of state funds being released following the enactment of a state budget for Fiscal Year 2025-26.

To be eligible for this program, Head Start providers and county governments must indicate the investment will be used for immediate operating expenses and agree to the loan’s standard terms and conditions.

“We have no greater responsibility than to take care of our most vulnerable Pennsylvanians, and that’s exactly what’s being achieved by making these funds available,” Treasurer Garrity said.

Click here to find the press conference

Treasurer Garrity Announces Fee Reduction for PA ABLE

Pennsylvania Treasurer Stacy Garrity today announced that a new fee reduction for PA ABLE (Achieving a Better Life Experience) account owners went into effect on Sept. 1, 2025 — the sixth PA ABLE fee reduction since she took office in 2021.

“Every dollar counts for Pennsylvanians with disabilities, and this latest fee cut is another step in making sure PA ABLE account owners are saving as much as possible,” Treasurer Garrity said. “PA ABLE is a tremendous program that helps our friends and neighbors with disabilities live more independently and build financial stability.”

This latest fee cut is the result of the National ABLE Alliance (NAA) surpassing $700 million in assets. PA ABLE is the largest member plan in the NAA with total assets of more than $175 million. The reduction of two basis points lowers program management fee ranges from 0.30%-0.36% to 0.28%-0.34%. This reduction results in about $35,000 in savings across the PA ABLE program.

PA ABLE offers tax-advantaged savings options for people with disabilities. Saving with PA ABLE does not impact eligibility for important benefits such as Supplemental Security Income and Medical Assistance. PA ABLE allows contributions of up to $19,000 annually. With ABLE to Work this limit may be higher for employed individuals who do not contribute to an employer-sponsored retirement plan.

Funds saved with PA ABLE are easily accessible and can be used for a wide range of disability-related expenses, from day-to-day things like groceries and rent, to bigger expenses like assistive technology, vehicle adaptations and more. No federal or state income tax is paid on PA ABLE account growth or withdrawals when used for qualified expenses.

Currently to save with PA ABLE, a person’s disability must be onset prior to the age of 26. Starting in 2026, this age rises to 46, expanding to include millions more Americans, including one million Veterans.