Celebrate a Milestone and Look Ahead
Today, we celebrate the landmark legislation that paved the way for 8 million Americans with disabilities to save and invest for themselves, building quality of life and greater financial independence. On December 19, 2014, Congress unanimously passed the Stephen Beck Jr. Achieving a Better Life Experience Act (ABLE Act).
Before ABLE – and the subsequent opening of the first IL ABLE Account in 2017 – thousands of Illinoisans with disabilities remained stuck in a cycle of financial insecurity because they couldn’t save money without risking their public benefits such as SSI.
More than 6500 people have saved nearly $76 million in IL ABLE Accounts. And with an average IL ABLE Account balance of approximately $11,500, Account Owners have greater economic independence and financial freedom.
Nationally, since passage of the ABLE Act, 46 states plus D.C. offer ABLE Plans, and more than 187,000 ABLE Account Owners have saved and invested more than $2 billion. Funds saved can be used to pay for a wide range of expenses that help improve the Account Owner’s quality of life, wellness, and independence.
To mark the 10th Anniversary of the ABLE Act, Illinois Treasurer Michael Frerichs issued a proclamation and the Illinois Senate passed a resolution declaring December 19, 2024, as Illinois ABLE Day.
What’s ahead for IL? There is a lot to look forward to – mark your calendar for ABLE to Save Month in April 2025 and National ABLE Savings Day on August 14, 2025. And just around the corner in 2026, a significant change is coming: approximately 250,000 more Illinoisans will be eligible to open an IL ABLE Account as the eligibility age for the onset of disability expands from before age 26 to before age 46. Stay tuned!
Explore IL ABLE Resources
Learn what an IL ABLE disability savings Account is, who is eligible, how to open an Account, and how it can help you save for qualified disability-related expenses while protecting important benefits.
- Learn About ABLE Accounts
- Read the ABLE Plan Disclosure Booklet
- Compare ABLE Investment Options
- Open an ABLE Account
- Request an IL ABLE Presentation by emailing Rosemary Laudani at rlaudani@illinoistreasurer.gov.
For assistance, call 888-609-8683 Monday through Friday from 8 am to 5 pm CT, or email il.clientservice@savewithable.com. Support is available in multiple languages and for callers who are deaf or hard of hearing.