News and Updates from the Illinois State Treasurer's ABLE Plan
Self-advocates share their ABLE stories
If you and your loved ones have been on sitting on the fence about opening an IL ABLE Account, it’s time to meet IL ABLE Account Owners, T.J. Gordon and Jesus “Chuy” Campuzano. They shared their personal experiences about how their IL ABLE Accounts have improved their lives during the recent Arc of Illinois Annual Convention.
Read More “People with Disabilities and their IL ABLE Accounts”
It’s a great time to review your investment selections
Do your investment selections align with your goals? Spring is a great time to review your IL ABLE Account investment option selections. IL ABLE now offers eight Investment Options – seven Asset Allocation Options and the Checking Account Option.
You Can Go Online to Open and Manage IL ABLE Accounts
Disability service agencies and organizations can now go online to open, manage and view IL ABLE Accounts for the individuals they serve. It’s what is called the “Online Entity Management Dashboard” and your entity can get started now.
Read More “Calling All Disability Service Agencies and Organizations!”
Do you know what it is?
You are likely already using Multi-Factor Authentication, or MFA, with many accounts that you access online. MFA is a security measure that many websites now require, where you put in your user id and password and then you are sent a code to an email address or cell phone number. That code must be input before you can continue into the website.
Read More “Multi-factor Authentication is Coming to IL ABLE Accounts”
4 Easy Ways to Make Withdrawals from an IL ABLE Account
Funds in an IL ABLE Account can be used to pay for Qualified Disability Expenses, which are any expenses that help to improve the health, independence, or quality of life of the Account Owner. Here are four ways to make a withdrawal request to pay for a Qualified Disability Expense.
Starting January 1, 2025, IL ABLE Accounts have a higher Annual Contribution Limit. Accounts can receive a total of $19,000 for the calendar year from all sources – Account Owners, family members, friends, and others!
Celebrate a Milestone and Look Ahead
Today, we celebrate the landmark legislation that paved the way for 8 million Americans with disabilities to save and invest for themselves to build quality of life and greater financial independence. On December 19, 2014, Congress unanimously passed the Stephen Beck Jr. Achieving a Better Life Experience Act (ABLE Act).
Changes coming to IL ABLE Accounts
On December 13, 2024, a new Money Market Option will be available as the 7th Target Risk Investment Option. The Money Market Option will invest 100% of assets in the Vanguard Cash Reserves Federal Money Market Fund.
Read More “Get Ready! There is a New Investment Option Coming December 13”
Treasurer Frerichs leads panel at Special Olympics Illinois Athlete Leadership Academy
Treasurer Frerichs moderated a lively panel discussion at the Special Olympics Illinois (SOILL) Athlete Leadership Academy that focused on the benefits of working. Panelists included SOILL athletes who have disabilities and leaders from Amazon and Hyatt who focus on initiatives that support hiring people with disabilities.
One teacher’s perspective
Each week, students from across Chicago travel to Urban Autism Solutions’ Growing Solutions Farm (UAS), a 1.2-acre produce farm located in Chicago’s west side where Chicago public high school transition students with autism and related disabilities gain valuable vocational skills to help prepare for future competitive employment.
Read More “Growing Work-Ready Skills at the Growing Solutions Farm”