FOR IMMEDIATE RELEASE
Contact: Ray Bozarth,
573-298-1654
JEFFERSON CITY, MO – State Treasurer Vivek Malek announced sharp
growth in MO ABLE, a program his office administers. MO ABLE was established as
a tool to allow eligible Missourians with disabilities to invest and grow their
money in a manner that doesn’t threaten their income eligibility for other
public benefits.
Background: In 2015,
then State Sen. Eric Schmitt introduced and helped pass Senate Bill 174,
otherwise known as the Missouri Able Act. Eric was inspired to lead the effort
in Missouri after he and his wife went through the experience of raising a
child with special needs. After being elected State Treasurer the following
year, Schmitt took on the task of implementing the program.
After meeting with U.S.
Senator Eric Schmitt earlier this year, Treasurer Malek was inspired by the story
of Senator Schmitt’s son, Stephen, and how MO ABLE came to be. Treasurer Malek set
out to grow MO ABLE and is thrilled to report significant growth in the program.
United States Senator
Eric Schmitt (R-Mo.) weighed in saying, “The MO ABLE program has helped
countless Missourians with disabilities save for their futures and achieve
greater independence. My son, Stephen, not only inspired me to run for office,
but also inspired me to take action to pass and implement legislation that
would improve the quality of life for Missourians who live with disabilities.
I’m deeply grateful that Treasurer Malek has not only continued on the legacy
of MO ABLE, but has worked hard to successfully grow the program, leaving
Missourians better off.”
The MO ABLE program has
grown significantly in 2023. New accounts have increased 13.7% and the MO ABLE
investment portfolio has seen an increase of nearly 25% in total assets,
growing by $6.3 million.
In response, Treasurer
Malek stated, “MO ABLE is near and dear to me. Thankfully, we are seeing
increases in the number of Missourians participating in the program. I’m proud
to continue Eric Schmitt’s great work of helping Missourians living with disabilities
grow their money.”
To learn more about MO
ABLE, go to MOABLE.com or call 1-800-439-1653
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