News and Updates from the Illinois State Treasurer's ABLE Plan
Know Before You Go!
Going through the process of determination or re-determination of Medicaid benefits with the Illinois Department of Human Services is an experience that we all know can be stressful for families. So, if you own or manage an IL ABLE Account, know that Medicaid must not count ABLE Account assets as a resource in determining or re-determining Medicaid benefits.
Great news! Account Owners can save more in 2026! The Annual Contribution Limit for IL ABLE Accounts is increasing to $20,000.
Did your disability begin before your 46th birthday? Starting January 1, you may be eligible to own an IL ABLE Account and benefit from these 4 ABLE features.
Is Your Corporate Disability Employee Resource Group Ready?
If the company you work for has a disability business or employee resource group, members should know about the coming ABLE eligibility expansion. That’s because many employees acquired a disability before age 46 (not before age 26, the current eligibility criteria) and they may soon be eligible to open a tax-advantaged ABLE account.
A shout out this month to workers with disabilities! We celebrate with you on this, the 80th anniversary of National Disability Employment Awareness Month (NDEAM). “Celebrating Value and Talent” raises awareness about disability employment and celebrates the many and varied contributions of America’s workers with disabilities.
Read More “Celebrating 80 Years of National Disability Employment Awareness Month”
Get Ready for ABLE Age Adjustment
On January 1, 2026, the age of disability onset criteria to own an IL ABLE Account will expand to include people who acquired their disability before age 46. (The current criteria is disability onset before age 26.) Approximately 250,000 more Illinoisans will become eligible to own a tax-advantaged IL ABLE Account to start saving and investing for disability-related expenses.
Parents of a child with a disability are thinking ahead.
Alysia Townsend, parent of IL ABLE Account Owner Etienne contributes to IL ABLE Account to save for her son’s adult life. “I didn’t need to immediately focus on spending ABLE money around certain needs,” said Townsend in a recent interview with Chalkbeat, a nonprofit news organization covering stories about education. “I already had those needs met. As he gets older he needs more things and different things.”
Good news for IL ABLE Account Owners! Effective September 1, 2025, the program management fee on IL ABLE Accounts was reduced by 0.02% basis points on the seven Asset Allocation Investment Options. This reduction lowered the total annual asset-based fee range from 0.30% – 0.36% to 0.28% – 0.34%.
Three Easy Steps to Get Started
Is it time for your organization to start managing your clients’ IL ABLE Accounts online?
You and your organization can now save time and gain efficiency by opening and managing your clients’ IL ABLE Accounts online. If your Entity serves as SSA rep payee or under power of attorney you can easily help your clients protect their federal benefits, save for large expenses, and build assets from their earnings by going online with their IL ABLE Accounts.
Read More “It’s Time for Your Agency to Get Online with IL ABLE”
Saving and Investing for a Better Life Experience
Thank you for passing by the IL ABLE Exhibitor booth during June’s Abilities Expo. We were glad to share IL ABLE information as part of your visit to explore the latest in disability services and equipment. Some visitors to our booth even opened their IL ABLE Accounts right then and there!