Disability Expenses/Special Olympics Illinois/True Stories

Illinois Family Dreams Big with IL ABLE Account

Pisani family saves for short- and long-term disability expenses.

IL ABLE accounts can help people with disabilities save money for a variety of expenses, from everyday groceries to planning for larger purchases that improve quality of life and increase independence for the Account Owner. The editors of accessABLE News & Updates recently connected with Special Olympics Illinois athlete and IL ABLE Account Owner Louis Pisani and his mom Kish to learn about how IL ABLE helps Louis save for his future and build his independence.

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Special Olympics Illinois/True Stories

How Two Brothers Use IL ABLE Accounts to Build Financial Independence

Zach and KC Share Their IL ABLE Story

For people with disabilities, saving in an IL ABLE Account can provide benefits beyond the account balance. It can support greater independence, confidence, and a sense of accomplishment.

In this interview, IL ABLE Account Owners Zach and KC, along with their mother, Micki, explain how their accounts help them save, manage their money, and prepare for future needs.

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mother and child at desk
Disability Expenses/Investing Basics

Springtime is a Great Time to Plan Ahead with IL ABLE

Save for your child’s short- and long-term needs.

Spring is in full bloom – grass is green, the trees are blossoming, and the school year is winding down. For some, this means going through an Individualized Education Plan (IEP) review to reflect on the pastyear’ss accomplishments and to look ahead to the next school year. This is also a great time to review your child’s short- and long-term financial needs. For example, will they need additional therapies or educational supports in the coming year? Is transition planning within sight?

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Taxes

Use Your Tax Refund to Open or Contribute to an IL ABLE Account

Consider opening or contributing to an IL ABLE account.

Tax refunds are always welcome, and they can give you a chance to think about the disability expenses you want to save for. Do you want to save the refund for an unexpected medical expense? Are you going to need new tires for the car that gets you to and from your job? Is there travel in your future?  Whatever your financial dreams and goals, contributing your tax refund to an IL ABLE account can help you reach them.

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Financial Advisors/Investing Basics

April is National Financial Literacy Month

Elevate your financial know-how

Carleda Johnson

Managing money can be intimidating, especially if it is a new responsibility or you feel you don’t have the right skills or language to talk about it. Financial literacy is all about empowering individuals with the skills and understanding needed to manage their personal finances confidently. As part of National Financial Literacy Month, we interviewed Carleda Johnson, Independent Living Skills Coordinator and Financial Literacy Coach at Access Living. Carleda shares her knowledge and expertise below to help you build your financial literacy.

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Investing Basics

Keeping Your Savings and Investment Goals on Track

New year sees market swings

2021 was a banner year for investors, as the S&P 500 and other major indices tracking financial markets reached all-time highs. 

This year is off to a bumpier start with inflation, pandemic-related supply chain disturbances, and the current conflict between Russia and Ukraine contributing to the market’s volatility and investor uncertainty. 

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Events/Special Olympics Illinois/Treasurer Michael Frerichs

Illinois State Treasurer Declares the Special Olympics Illinois Winter Games Open!

Treasurer Frerichs paraded with athletes and spoke at the Opening Ceremonies. 

The Treasurer was on hand to kick off the Special Olympics Illinois Winter Games 2022! The games, which featured skiing and snowshoeing competitions, were held in beautiful, wintry Galena.

After a parade down historic Main Street, the Treasurer declared the games open and shared the many benefits of IL ABLE savings and investment accounts for SOILL athletes and all ABLE-eligible individuals. Some of those benefits are:

  • You can contribute up to $16,000 per year to this tax-free savings account – more if you work.
  • Contributions may be tax-deductible.
  • You can save for everyday and/or long-term expenses.

“I wish all the Special Olympics athletes the best of luck in the Winter Games and encourage families to find out more about how to save for your child’s future at illinoisABLE.com,” said Treasurer Frerichs.

Learn more about the IL ABLE Special Olympics Illinois partnership and IL ABLE.   

Find quick answers to your IL ABLE questions with IL ABLE FAQs.

Learn More About IL ABLE

Explore how an IL ABLE account can help you save for qualified disability-related expenses.

For assistance, call 888-609-8683 Monday through Friday from 8 am to 5 pm CT, or email il.clientservice@savewithable.com. Support is available in multiple languages and for callers who are deaf or hard of hearing.

Special Olympics Illinois/Stimulus Payments

IL ABLE Account Owner is bound for the Special Olympics USA Games in Florida

Special Olympics Illinois athlete Brandy shares how her IL ABLE Account supports her Special Olympics goals. 

Brandy is an IL ABLE Account owner AND a Special Olympics Illinois athlete, and she is bound for the USA Games in Florida in June 2022. In our recent interview with Brandy, she shared how her IL ABLE Account supports her Special Olympics goals.

accessABLE:  IL ABLE is helping to make it possible for athletes like you to attend the USA Games next year. You are an IL ABLE Account Owner. How did you find out about IL ABLE?  

Brandy:  I found out about IL ABLE through my case manager (a person who supports Brandy).

accessABLE:  When did you open your IL ABLE Account? 

Brandy:  I have had an IL ABLE Account since 2019.

accessABLE: Did you open the Account yourself or did someone help you open the Account? 

Brandy: I was assisted by the case manager at my group home in opening my IL ABLE Account (For our readers: many people with disabilities deposited their stimulus payments into their IL ABLE accounts to protect their benefits).

accessABLE: Tell us about your job and what you do.

Brandy:  I work at Accolade Nursing Home. I am a dietary aide. I serve the residents, wash the dishes, and interact with the residents. 

accessABLE:  Do you deposit your paycheck into your IL ABLE Account?

Brandy:  No (For our readers:  Did you know that you can deposit all or part of your paycheck into your IL ABLE Account?  And, IL ABLE Account Owners who work can contribute more each year to their IL ABLE accounts.

accessABLE: How might you use the money you have saved in your IL ABLE Account during the USA Games in Florida?  

Brandy: I plan to buy souvenirs. I also want to experience as much as possible at the USA Games.

accessABLE: Tell us what it was like for you when State Treasurer Frerichs visited you at the Rec Center in Pontiac, IL? What were you thinking when you first saw him?  

Brandy:  I was so excited, and I was thinking, ‘What are all these cameras and people here for?’

accessABLE: How did it feel to hear the news from the Treasurer that you are going to represent Illinois at next June’s Special Olympics USA Games in Florida?

Brandy:  It was exciting! I felt good inside to know I was going to the USA Games in Florida.

accessABLE: Being a Special Olympics Illinois athlete must keep you busy. What sports do you play?

Brandy:  My sports are bowling and basketball. But I like all kinds of athletics. 

accessABLE:  What will you do to get ready for the USA Games in Florida next June?

Brandy:  I will continue to train and strengthen with my coach for the USA Games. I will continue to eat and drink as healthy as I can. 

accessABLE:  Have you ever been to Florida? What do you think it will be like to go to the USA Games? 

Brandy:  I have not been to Florida. I think it will be amazing and fun. I will meet a bunch of new people. Special Olympics has made me very proud of myself and my accomplishments. 

accessABLE: Thank you, Brandy, for being an IL ABLE Account Owner and good luck at the USA Games!

In September, Treasurer Frerichs had the great pleasure of surprising Brandy with the news that she had been selected to represent Team Illinois at the Special Olympics USA Games in Orlando, Florida. You can watch the surprise [reveal here].

For our readers and Special Olympics families:  Did you know that many of the costs of equipment, training, and transportation can be covered by funds you save in your IL ABLE Account? Just like Brandy, you or your athlete can open an IL ABLE Account.  

Learn More About IL ABLE

Learn what an IL ABLE disability savings Account is, who is eligible, how to open an Account, and how it can help you save for qualified disability-related expenses while protecting important benefits.

For assistance, call 888-609-8683 Monday through Friday from 8 am to 5 pm CT, or email il.clientservice@savewithable.com. Support is available in multiple languages and for callers who are deaf or hard of hearing.