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Illinois ABLE News & Updates

News and Updates from the Illinois State Treasurer's ABLE Plan

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Category: True Stories

True Stories

Mom and Daughter Find Comfort with ABLE

April 7, 2018November 9, 2018 illinoistreasurer

Many people have asked, “Why should I open an ABLE account?”  Instead of hearing the answer from us at the State Treasurer’s Office, we went straight to Illinois ABLE account owner Julia, and her mom Janet.

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True Stories

Investing in Myself – An ABLE Account Owner Speaks Out

February 3, 2018November 9, 2018 illinoistreasurer

Wendy Settles is a young professional who works as a housing specialist for Impact Center for Independent Living in Alton, IL. She helps individuals with disabilities get out of nursing homes and into integrated community living. Wendy opened her ABLE account about a year ago.

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The Illinois Achieving a Better Life Experience (IL ABLE) plan is sponsored by the State of Illinois and administered by the Office of the Illinois State Treasurer. IL ABLE is designed to be a qualified ABLE plan offered through the National ABLE Alliance. Ascensus College Savings Recordkeeping Services, LLC, the Program Manager, and its affiliates, have overall responsibility for the day-to-day operations, including investment advisory, recordkeeping and administrative services for IL ABLE.

Accounts in IL ABLE are not guaranteed or insured by the State of Illinois, the state administrator, the Trust, IL ABLE or the Program Manager. IL ABLE offers investment options across the risk spectrum from Conservative to Aggressive. Except for the checking account option, investments in the IL ABLE plan are not insured by the FDIC. The Checking Option offers FDIC insurance up to $250,000, subject to certain restrictions. Interests in IL ABLE are municipal securities and the value of your account will vary with market conditions and the performance of the investment options you choose. Account owners assume all investment risks as well as responsibility for any federal and state tax consequences. Participation in the IL ABLE plan does not guarantee that contributions and the investment return on contributions, if any, will be adequate to cover future expenses or that an Account Owner is eligible to participate in the IL ABLE Plan.

Before investing in any ABLE plan, you should consider whether the state in which you reside or pay taxes offers an ABLE plan that provides its taxpayers with favorable state tax or other benefits that are only available through investment in the home state’s ABLE plan. You also should consult your financial, tax, or other adviser to learn more about how state-based benefits, or any limitations, would apply to your specific circumstances.

This material is provided for general and educational purposes only, and is not intended to provide legal, tax or investment advice, or for use to avoid penalties that may be imposed under federal or state tax laws. This material is not an offer to sell or a solicitation of an offer to buy any securities.

Testimonials may not be representative of the experience of other customers and is no guarantee of future performance or success.  For more information about IL ABLE, call (888) 609-8683, or visit https://illinoisable.com  to obtain Plan Disclosure Documents, which include investment objectives, risks, charges, expenses, and other important information about IL ABLE.

2023 Illinois ABLE News & Updates
 

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