News and Updates from the Illinois State Treasurer's ABLE Plan
Starting January 1, 2025, IL ABLE Accounts have a higher Annual Contribution Limit. This is the total amount that can be added to the account during the calendar year from all sources, including the Account Owner, family members, friends, and others.
Read More “Save More in 2025: Accounts can receive a total of $19,000 for the calendar year”
Today, we celebrate the landmark legislation that paved the way for 8 million Americans with disabilities to save and invest for themselves, building 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.
Read More “How Inclusive Employers and IL ABLE Accounts Support 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 on Chicago’s West Side, where Chicago public high school transition students with autism and related disabilities gain valuable vocational skills to prepare for future competitive employment.
Read More “Growing Work-Ready Skills at the Growing Solutions Farm”
Celebrating National Disability Employment Awareness Month
Mother Nature delivered a picture-perfect day for Illinois Treasurer Michael Frerichs’ visit to Urban Autism Solutions’ Growing Solutions Farm in Chicago earlier this month. During the visit, which was in celebration of National Disability Employment Awareness Month, Treasurer Frerichs learned how students with autism build important vocational skills through working on the Farm.
Read More “Treasurer Michael Frerichs visits Urban Autism Solutions”
It’s easy for New Account Owners and Authorized Individuals to make savings happen.
New Account Owners and their Authorized Individuals often ask how to make contributions to their new IL ABLE Account. Here are five easy and convenient options to start contributing:
Switch to E-Delivery
IL ABLE Account Owners will notice a lower Annual Account Maintenance Fee on the quarterly statement starting in January!
Helping Students with IEPs Save for the Future
The excitement of a new school year is upon us! As students with disabilities prepare their school bags for the start of a new academic year, their parents and guardians may be considering how to plan for their students’ financial futures.
Today is the first National ABLE Savings Day, which recognizes the importance of ABLE savings and investment programs to Americans living with disabilities and their families. ABLE Account Owners and their supporters are celebrating greater financial independence thanks to ABLE programs across the nation, including right here in Illinois with the IL ABLE program.