Illinois State Treasurer Michael Frerichs Lowers Fees on IL ABLE Accounts
includes 17 states and Washington, D.C.
such as Supplemental Security Income (SSI) and Medicaid. IL ABLE offers six investment options ranging from conservative to aggressive
and an FDIC‑insured checking account option. IL ABLE account earnings grow tax-deferred and are tax‑free if used for
qualified disability-related expenses.
contributed to IL ABLE accounts, and account owners maintain an average account balance of $9,200. Approximately $340 million has been deposited into accounts in the National ABLE Alliance
Program since the first plan launched in 2016. More than 33,000 account owners across the National ABLE Alliance will benefit from the lower fees, including nearly 3,500 in Illinois.
information about the program.
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