PRESS RELEASE
Treasurer Fitzpatrick Announces Central Bank to Offer MO ABLE Payroll Deductions
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. ### Follow the Treasurer’s Office on Twitter,
Facebook, and Instagram @motreasurer.
