Students with IEPs to receive IL ABLE information at their annual meeting.
Parents, guardians, and others who support students with an Individualized Education Plan (IEP) should be provided with the IL ABLE brochure in their student’s annual IEP meeting. Starting with this school year, schools are now required to provide IL ABLE information to students and their supporters at their annual IEP meeting.
“We want more families to be aware of an important program that allows them to save for their child’s future,” said Illinois Treasurer Michael Frerichs. “The IL ABLE information that students and families will start receiving this school year will give them the tools they need to begin setting aside money for their children’s current and long-term expenses.”
IL ABLE Accounts can be an important resource to help families save money for their children’s disability-related expenses, such as education, therapy, assistive technology, health and wellness, and so much more. Learn more about Qualified Disability Expenses at illinoisable.com.
Up to $17,000 can be contributed into an IL ABLE Account annually and contributions can come from any source. Additionally, Illinois taxpayers who contribute to an IL ABLE Account may be able to receive a state income tax deduction up to $10,000 for individual filers or up to $20,000 for joint filers. To learn more about the benefits and features of IL ABLE Accounts or to get started with opening an Account, visit illinoisable.com and read the Plan Disclosure Booklet.
Families and supporters can look for the Brochure for Students with IEPs in the materials their child receives at the conclusion of their IEP meeting.