Illinois ABLE News & Updates

ABLE Facts/Account Management/Uncategorized

ABLE Age Adjustment Act Passed!

January 21, 2023January 20, 2023 illinoistreasurer

Higher eligibility age limit takes effect in 2026

Since Congress passed the Stephen Beck Jr. Achieving a Better Life Experience Act in 2014, the ABLE community has worked tirelessly to pass legislation to increase the age of eligibility criteria to own an ABLE account from disability onset before age 26 to before age 46.

Supported by legislative champions in Congress, disability advocates and ABLE programs across the country, the ABLE Age Adjustment Act made it across the finish-line on December 29, 2023, when President Biden signed the Consolidated Appropriations Act, 2023 [H.R. 2617], which included the ABLE Age Adjustment Act.

ABLE Facts/Account Management/Contributions

Maximize IL ABLE Account Benefits

December 17, 2022December 19, 2022 illinoistreasurer

There is still time to contribute for 2022

It’s hard to believe that 2022 is coming to a close, but there is still time to open or contribute to an IL ABLE Account to take advantage of these benefits before the year is over.

ABLE Facts/Account Management

Authorized Individuals and IL ABLE Accounts

December 17, 2022December 19, 2022 illinoistreasurer

What you need to know about acting on behalf of an Account Owner

Authorized Individuals often play a vital role in IL ABLE Accounts. They can open IL ABLE Accounts for eligible children and adults who are not able to open and manage the Account for themselves. Additionally, Account Owners with legal capacity may select an Authorized Individual to manage their Account.

ABLE Facts/Account Management/Taxes

Thank You from IL ABLE

November 19, 2022November 18, 2022 illinoistreasurer

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.

Read More “Thank You from IL ABLE“

ABLE Facts/Account Management

IL ABLE Rolls Out Important Changes on November 20

November 19, 2022November 18, 2022 illinoistreasurer

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:

Events/True Stories

Illinois Treasurer on the Road and on the Airwaves

November 19, 2022November 18, 2022 illinoistreasurer

Spotlight on how IL ABLE empowers people with disabilities

In October, which was National Disability Employment Awareness Month, Illinois State Treasurer Michael Frerichs took to the road and across the airwaves to meet with people and share information about IL ABLE, a program that empowers persons with disabilities who are working to save more and maintain their public benefits.

ABLE Facts/Employment/Events

Illinois State Treasurer Honors National Disability Employment Awareness Month

October 15, 2022October 14, 2022 illinoistreasurer

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.

Employment/Events

Celebrate National Disability Employment Awareness Month!

October 15, 2022October 14, 2022 illinoistreasurer

Disability is part of the inclusion equation.

Each October, National Disability Employment Awareness Month (NDEAM) is celebrated across the country to recognize the positive contributions people with disabilities make in America’s workplaces and our economy.

Events

Treasurer Frerichs Visits Open Door Rehabilitation Center at the Sandwich Fair

September 17, 2022September 16, 2022 illinoistreasurer

September 8 was a picture-perfect day when Treasurer Frerichs paid a visit to the Open Door Rehabilitation Center’s (ODRC) Lemon Shakeup stand at the Sandwich Fair. The Treasurer met with staff, volunteers, and clients of the disability services organization, some of whom own IL ABLE accounts. A favorite among clients, ODRC serves up delicious lemonade and pizza at the Sandwich Fair every year.

ABLE Facts/Account Management

Great News!

September 17, 2022September 15, 2022 illinoistreasurer

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.