![]() IL ABLE is designed to be a qualified ABLE plan offered as part of the National ABLE Alliance. ![]() The Illinois Achieving a Better Life Experience (“IL ABLE”) plan is sponsored by the State of Illinois and administered by the Office of the Illinois State Treasurer (“Treasurer”). Illinois leads the National ABLE Alliance, an 19-member consortium that represents more than one-quarter of the nation’s ABLE-eligible population and offers a best-in-class ABLE program to people with disabilities anywhere in the country. IL ABLE Accounts solve a long-time predicament that many people with disabilities face – how to build financial wellness without risking much-needed federal government benefits. Great tax benefits: Illinois taxpayers can make a tax-deductible contribution to any IL ABLE Account: up to $10,000 for individual filers and $20,000 for those filing jointly.Popular Checking Account Option with a real-time debit card.High-quality Investment Options that fit your goals and comfort level.IL ABLE Account Owners who receive SSI benefits can exceed the $2000 asset cap without losing benefits.Earnings and withdrawals are tax-free if they are spent on a broad range of Qualified Disability Expenses including housing, health and wellness, education and training, therapy, basic living expenses and more. IL ABLE Accounts make it possible for eligible people with disabilities and their families to save and invest for expenses related to living with a disability without losing, or losing access to, federal means-tested benefits such as SSI, SSDI and Medicaid.
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