PRESS RELEASE
Treasurer Fitzpatrick Recognizes Fifth Anniversary of MO ABLE
Jefferson City, MO – Missouri State Treasurer Scott Fitzpatrick
today recognized the fifth anniversary of MO ABLE, Missouri’s savings and
investment plan for individuals with disabilities. The program launched April
24, 2017. “MO ABLE helps give individuals
with disabilities equal opportunity to plan for their financial future.
Empowering people with disabilities to save their own money without the fear of
losing necessary need-based benefits can have a life-changing impact,”
Treasurer Fitzpatrick said. “In just five years, MO ABLE has grown to be one of
the largest ABLE programs in the country—but there is still work to be done. I
hope Missourians will join me in helping to spread the word about this valuable
program so that in the next five years even more individuals with disabilities
can take control of their personal finances and achieve financial independence.” MO ABLE, administered by the
Treasurer’s Office 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. 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, the
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 nearly 3,000 accounts and over $22 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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