3 ABLE Act Provisions Made Permanent
Congress passed the ENABLE Act, and it was signed into law on July 4. The new law makes three ABLE account provisions permanent. These provisions were first approved in 2017 but were scheduled to expire at the end of 2025.
1. 529 to ABLE Rollover: allows rollovers of assets from 529 education savings accounts to ABLE accounts. Read more about contributing to an IL ABLE Account.
2. ABLE to Work: allows Account Owners who are working to contribute more to their ABLE accounts. Read more about IL ABLE & Working Account Owners.
3. ABLE Saver’s Credit: allows Account Owners to claim a non-refundable tax credit for contributions made to their ABLE accounts. Read more about the Saver’s Credit at irs.gov.
These three permanent ABLE provisions may help Account Owners make the most of their IL ABLE Accounts.
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.