The 104th General Assembly of the State of Illinois has declared August 14, 2025, as Illinois ABLE Savings Day! Mark your calendars to open, contribute to, or tell someone about IL ABLE Accounts on August 14. Read the full Resolution.
What can you do to celebrate Illinois ABLE Savings Day?
- Attend the “Build Your ABLE Life with an IL ABLE Account” webinar on “Illinois ABLE Savings Day”, August 14 at Noon CT. Register now.
- Host a webinar for Arc consumers, staff, parents, guardians or jointly with another organization. Email able@illinoistreasurer.gov to schedule.
- Contribute to an IL ABLE Account! Anyone can contribute to an IL ABLE Account – the Account Owner, Authorized Individuals, family and friends. Illinois taxpayers can receive a state income tax deduction for contributions made to any IL ABLE Account – up to $10,000 for individual filers, up to $20,000 for joint filers. Learn more at illinoisable.com.
- Forward this newsletter to someone who should know about IL ABLE Accounts and Illinois ABLE Savings Day.
Since the first IL ABLE Account was opened in 2017, more than 7600 Account Owners have saved greater than $96 million in their Accounts. The average Account balance is more than $12,000 – well beyond the $2000 asset SSI limit for those receiving SSI benefits.
IL ABLE Accounts can complement a special needs trust, and up to $19,000 can be contributed annually – more if the Account Owner is working.
Earnings and withdrawals on IL ABLE Accounts are tax-free for a wide range of Qualified Disability Expenses such as health and wellness, transportation, education, employment training and support, and more.
Help build greater independence and quality of life for yourself or someone you know on ABLE Savings Day. Start building your ABLE life at illinoisable.com.
Learn more about IL ABLE at illinoisable.com and read the Plan Disclosure Booklet.