News and Updates from the Illinois State Treasurer's ABLE Plan
What you need to know
On November 20, 2022, the IL ABLE Plan will roll out Plan changes to conform to the Internal Revenue Service’s rules for ABLE programs. Here are some important things you need to know:
Read More “IL ABLE Rolls Out Important Changes on November 20 “
Dear Account Owners and their supporters,
Thanksgiving is upon us and we at IL ABLE want to say Thank You to all of the Account Owners (and their Authorized Individuals) who save and invest with IL ABLE Accounts.
Vocational training is what it’s all about.
To celebrate National Disability Employment Awareness Month, Illinois State Treasurer Michael Frerichs visited several disability service organizations in October, including Hope Vocational Academy and Sparc, both in the Springfield, IL area. While there learned about their respective vocational training programs and the organizations’ support services for people with disabilities. The Treasurer spoke about the value of working and the advantages of being able to save money and protect federal benefits with an IL ABLE Account.
Read More “Illinois State Treasurer Honors National Disability Employment Awareness Month“
IL ABLE Accounts Have Lower Fees!
Great news! While costs on so many things seem to be going up, fees on your IL ABLE account have gone down!
Annual Account Maintenance fees were recently lowered nearly 25 percent from $45.00 to $34.00 if you receive e-delivery notification that the Account’s quarterly statements are ready for viewing. The Annual Account Maintenance fee for paper statements was reduced from $60.00 to $59.00. The reduced fees, which are assessed quarterly, will be reflected on your October quarterly statement.
Your IL ABLE account can help you make the most out of summer
Summer has arrived and with it, endless possibilities for summer fun! While the warm weather can mean free time outside, a lot of activities will cost money. Whether you will be spending time at your local pool, taking a family road trip to see friends, camping at your favorite state park, or going to summer camp your IL ABLE account may be able to be used to cover these expenses and help you make the most of your summer.
Learn how ABLE to Work can work for you
IL ABLE Accounts offer many benefits. ABLE to Work is one of them. Account Owners who work and earn money can contribute more than the annual $17, 000 contribution limit. That means more savings.
This Athlete and Global Messenger is Building Physical & Financial Wellness On and Off the Field
When 21-year-old Special Olympics Illinois (SOILL) Global Messenger Michael Williams collaborated on an Autism Awareness Month video, he was filling pandemic time to build communications skills while waiting to return to in-person SOILL competition. “Michael is not as interested in the virtual activities, so he is looking forward to entering more Special Olympics events in-person,” said Dawn Williams, Michael’s mom, and coach of several of Michael’s teams.
Read More “Special Olympics Illinois & IL ABLE partner to help families”
Ugift® is an easy-to-use, no-cost way to make a meaningful holiday gift to a loved one with a disability. How does it work?
First, the IL ABLE Account Owner (person with the disability) or the Authorized Individual (an adult who is authorized to transact on the account) logs into their IL ABLE account and accesses their unique Ugift® code.
Next, they share that code with friends, family or others who want to make a contribution to the account.
Then, the gift giver visits UgiftABLE.com and inputs the code in order to make a direct contribution to the IL ABLE Account Owner’s account.
Read More “Give the gift of savings to an IL ABLE Account Owner with Ugift® this holiday season”
Consider Rolling it Over to IL ABLE. Here’s Why.
If you live in Illinois and opened an ABLE account for yourself or a loved one in another state’s ABLE plan, you may be missing out on some of the benefits offered by IL ABLE. For example, if you are an Illinois taxpayer and you contribute to any IL ABLE account, you may be able to take a state income tax deduction. Learn more here.
An Illinois ABLE account means greater independence for people with disabilities. How?
Read More “Three Ways an Illinois ABLE Account Can Help You Build Your Independence”