JEFFERSON CITY, Mo. — Missouri State Treasurer Scott Fitzpatrick today announced a partnership with Central Bank and the MO ABLE program. Central Bank will begin offering payroll deductions for MO ABLE accounts for employees in 2021.
“I have spent October raising awareness about MO ABLE and how adding payroll deductions for employees with disabilities or parents of children with disabilities increases equity and inclusion,” Treasurer Fitzpatrick said. “As we continue to raise awareness about this valuable program and how it helps make it easier for individuals with disabilities to save for the future, I am grateful to those who are providing this opportunity for employees. I thank Central Bank for this commitment and hope other employers across the state will follow their example.”
“MOABLE is an easy, seamless payroll deduction solution that will work well for our HR department and employees,” David Minton, President & CEO, Central Bank, said. “Those in our organization with disabilities or who have children with disabilities will have more options to save for the future. More than anything else, MOABLE reflects our company’s values and will be a great addition to those who need it.”
Launched in 2017, MO ABLE allows individuals with disabilities and their families to save up to $15,000 per year, tax-free, without losing federal benefits like Medicaid and SSI. For more information about the MO ABLE program and to take an eligibility quiz, visit moable.com.
October is National Disability Employment Awareness Month. Throughout the month, Treasurer Fitzpatrick is participating in a number of events across the state to raise awareness and increase access and opportunity for individuals with disabilities.
Today’s announcement is a result of the Treasurer’s effort to increase inclusion and equity for employees with disabilities by encouraging employers across the state to add payroll deductions for MO ABLE accounts. On Thursday, Treasurer Fitzpatrick announced that Missouri State University will offer payroll deductions for MO ABLE accounts to employees during open enrollment this year.
Central Bank joins CoxHealth, Missouri State University, Truman State University and the University of Central Missouri in adding payroll deductions for MO ABLE accounts to their benefits packages for employees.
Throughout October, Treasurer Fitzpatrick has announced partnerships with Chambers of Commerce across the state to encourage businesses to add payroll deductions for MO ABLE accounts. The Treasurer has partnered with the Missouri Chamber of Commerce and Industry, the St. Louis Regional Chamber, the Springfield Area Chamber of Commerce and the Arc of the Ozarks, the Branson/Lakes Area Chamber of Commerce and CVB, the Columbia Chamber of Commerce, the St. Joseph Chamber of Commerce, and the O’Fallon Chamber of Commerce.
MO ABLE currently has 1,728 accounts and over $12 million in assets under management, making it one of the largest ABLE programs in the country.
