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Missouri to enter nine-state coalition to establish ABLE program

  

JEFFERSON CITY, Mo. – State Treasurer Clint Zweifel announced Thursday Missouri’s involvement in a nine-state consortium to establish an “Achieving a Better Life Experience,” or ABLE, program. The ABLE program allows states to make savings programs for the disabled or those with special needs as it relates to their disability.

Zweifel says the state should provide for those with extra needs to put them on an even playing field.

“In creating these ABLE accounts, our priority first and foremost is to serve the needs of Missourians with disabilities in a fiscally sound way that honors their circumstances,” Zweifel said in a statement. “These accounts will give families more financial security and empower them to make long-term planning decisions surrounding their specific needs.”

Alaska, Illinois, Iowa, Kansas, Minnesota, Nevada, Pennsylvania, and Rhode Island are the eight other states pursuing ABLE programs. ABLE has already been enacted at the federal level. It would allow those with disabilities to create tax exempt-savings accounts on the condition the money placed in those accounts is used only to treat their disability.

“I am excited about the Missouri ABLE Program and the benefits that it offers those with disabilities and their families,” Zweifel said.

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