Latest News and Updates

PRESS RELEASE

Treasurer Fitzpatrick Again Encourages Support for the ABLE Adjustment Act in U.S. House and Senate

Thursday, March 11, 2021
Treasurer's name

 

Jefferson City, MO – Missouri State Treasurer Scott Fitzpatrick today sent a letter to Missouri’s Congressional delegation urging their support for the ABLE Adjustment Act. The bipartisan legislation raises the age of onset for a disability to 46 years old, from 26 years old. This will increase eligibility for ABLE programs by more than 6 million Americans.

 

“The initial passage of the ABLE Act was a monumental step forward for individuals living with disabilities but there is still work to be done,” Treasurer Fitzpatrick said. “Raising the eligibility age expands access to the program to millions of individuals with disabilities across the country—including more than one million veterans. I hope our Congressional delegation in Washington will again support this valuable legislation that will have a direct impact on thousands of Missourians with disabilities.”

 

In the letter, Treasurer Fitzpatrick shared the story of a man named Sean from Independence, Missouri who approached a staff member at a presentation. He asked if he qualified for MO ABLE because he developed a disability at age 30. As the law stands now, the answer is no, he does not qualify.

 

“This legislation could change Sean’s story,” Treasurer Fitzpatrick wrote. “It could change the story for millions of Americans.”

 

Launched in 2017, Missouri’s 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.

 

                Since taking office in 2019, the Treasurer has prioritized enrolling more individuals in the program. He has travelled to all corners of the state visiting agencies, sheltered workshops, and groups who work in the disability community to host informative presentations. Through these efforts to spread the word, MO ABLE has more than doubled in size.

 

Over the past two years, the Treasurer’s Office has worked with Missouri’s congressional delegation to increase support for the ABLE Age Adjustment Act. Missouri had the fourth largest delegation support for this bill in the 116th Congress, behind California, New York, and Pennsylvania. The Treasurer hopes to have the full delegation signed on as co-sponsors in the 117th Congress.

 

             MO ABLE currently has 2000 accounts and over $15 million in assets under management, making it one of the largest ABLE programs in the country.

 

To learn more about the MO ABLE program and to take an eligibility quiz, Missourians can visit moable.com.

 

HR 1219 can be read here and S.331 can be read here.

 

A full copy of the letter can be read here.

 

Follow the Treasurer’s Office on Twitter, Facebook, and Instagram @motreasurer.

 

CONNECT WITH US

Missouri State Treasurer's Twitter Link    Missouri State Treasurer's Facebook Link    Missouri State Treasurer's Instagram Link    Missouri State Treasurer's LinkedIn Link    Missouri State Treasurer's flickr Link