News and Updates from the Illinois State Treasurer's ABLE Plan
Millions More Now ABLE-Eligible
New IL ABLE Account Owners, the Chicago Lighthouse, Access Living, and Professor Harold Pollak of the University of Chicago joined Illinois Treasurer Michael Frerichs to celebrate ABLE age expansion at a March 9 news conference.
Carla Vassilos is a busy wife and mom of twin boys. She is also an IL ABLE Account Owner thanks to the recent expansion in the ABLE age eligibility criteria, making ABLE accounts available to people whose disabilities began before age 46 (up from before age 26). accessABLE News & Updates editors connected with Carla to learn how her IL ABLE Account helps her put money aside for her disability expenses.
Read More “Account Owner Shares Her IL ABLE Age Adjustment Story”
Did your disability begin before your 46th birthday? Starting January 1, you may be eligible to own an IL ABLE Account and benefit from these 4 ABLE features.
Get Ready for ABLE Age Adjustment
On January 1, 2026, the age-of-disability-onset criteria for owning an IL ABLE Account will expand to include people who acquired their disability before age 46. (The current criteria are disability onset before age 26.) Approximately 250,000 more Illinoisans will become eligible to own a tax-advantaged IL ABLE Account to start saving and investing for disability-related expenses.
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 raise the eligibility age for owning 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.
Read More “ABLE Age Adjustment Act Raises Disability Eligibility Age from 26 to 46”