Missouri State Treasurer Scott Fitzpatrick Monday recognized August as #ABLEtoSave Month. Sponsored by the ABLE National Resource Center, #ABLEtoSave Month strives to raise awareness about ABLE programs, including Missouri’s MO ABLE, and their valuable benefits for individuals with disabilities.
“MO ABLE can have a life-changing impact on the lives of individuals with disabilities and their families,” Treasurer Fitzpatrick said. “Empowering individuals with disabilities to save their own money without the fear of losing necessary federal benefits is a huge step forward. Spreading the word about MO ABLE has been a priority for me since I took office in 2019. In that time, the program has more than tripled in size and remains one of the largest ABLE programs in the country. There are still many people who can benefit from this program and I will continue working to spread the word.”
MO ABLE, which celebrated its fifth anniversary in April, allows individuals with disabilities and their families to save up to $16,000 per year, tax-free, without losing federal benefits like Medicaid and SSI. This means participants can build financial wellness and be empowered to save for the future while retaining eligibility for their means-tested benefits.
The Treasurer continues to advocate for inclusion and opportunity in the workforce for individuals with disabilities. In 2019, he began encouraging employers to add payroll deductions for MO ABLE accounts, allowing individuals with disabilities and their families equal opportunities for saving. Missouri employers who have partnered with the Office to implement payroll deductions for MO ABLE accounts include the University of Missouri System, SoutheastHEALTH, CoxHealth, Truman State University, University of Central Missouri, Missouri State University, Schnucks Markets, Central Bank, the City of Jefferson City, and the City of Kansas City.
Treasurer Fitzpatrick is also calling on congressional legislators to expand access to the ABLE program by passing the ABLE Age Adjustment Act. Missouri has the third largest delegation support in the House of Representatives, with Rep. Blaine Luetkemeyer, Rep. Ann Wager, Rep. Jason Smith, Rep. Billy Long, Rep. Vicky Hartzler, and Rep. Sam Graves serving as co-sponsors of the legislation.
Since Treasurer Fitzpatrick took office, MO ABLE has tripled in size. The program has 3,200 accounts and over $23 million assets under management, making it one of the largest ABLE programs in the country.
You can learn more about MO ABLE at www.moable.com.
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