2017-08-10 / Business

In brief

MiABLE saves state families $2 million-plus

LANSING – The Michigan Achieving a Better Life Experience – MiABLE – program has helped Michigan families save more than $2 million for disability-related expenses in just nine months since its launch, Lt. Gov. Brian Calley announced. MiABLE is a 529(A) savings account administrated by the Michigan Department of Treasury that offers investment and tax incentives for families and others who wish to save for individuals with disabilities. Since MiABLE enrollment began Nov. 1, more than 700 accounts have been opened, with additional accounts opening every day. To raise awareness about the program and encourage additional savings, this month has been proclaimed as #AbleToSave Month in Michigan. “MiAble has been a game changer since its launch in November, providing families with the freedom to plan for the future without jeopardizing disability benefits,” Calley said. Unlike traditional savings accounts, MiABLE savings are not considered when applying for other federal or state benefits, like Social Security Disability Income, Medicaid and Supplemental Nutritional Assistance Program. MiABLE accounts also allow for savings up to $100,000 without losing other financial disability benefits. Funds from a MiABLE account are not taxed if used for qualified disability expenses. – L.R.

Serra Automotive acquires Draper dealerships in Saginaw

GRAND BLANC - On Aug. 7, Serra Automotive finalized the purchase of Draper Chevrolet and Draper Toyota in Saginaw. The new dealership names are Serra Chevrolet and Serra Toyota but many of the faces inside each store will not change. The Serra Saginaw group will be led by Rob Draper and Executive Manager Kevin Cassidy. Cassidy started in the car business with the Serra organization in 1989 and has most recently served as new car manager of Al Serra Chevrolet at the Al Serra Auto Plaza in Grand Blanc. The addition of the two new stores in Saginaw brings the total Serra dealerships in Michigan to twenty-one. The Serra Automotive network is headquartered in Grand Blanc. – R.S.

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