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Treasurer Fitzpatrick Announces University of Missouri System to Offer MO ABLE Payroll Deductions

Wednesday, October 27, 2021
Treasurer's name

 

                Jefferson City, MO – Missouri State Treasurer Scott Fitzpatrick today announced a partnership with the University of Missouri System and the MO ABLE program. Beginning in 2022, the UM System will offer payroll deductions for MO ABLE accounts as part of its benefit package for employees.


“MO ABLE is a program that can have a life-changing impact for those who use it—whether an individual with a disability or a parent saving for a child’s future. As Treasurer, I am working to make this program accessible to Missourians and I am grateful to our employer partners who are helping achieve this goal,” Treasurer Fitzpatrick said. “Payroll deductions make it easier to save. Adding a payroll deduction option for MO ABLE also means that those who can use this program are able to save for the future with the same opportunities as those who use traditional bank accounts or might save for their child’s future automatically in a 529 account. As a leader and the largest university system in the state, I am grateful for the University of Missouri’s partnership on this and look forward to working with other Missouri employers to grow this valuable program.”


“The University of Missouri System is pleased to partner with the MO ABLE program,” Marsha Fischer, Vice President for Human Resources and Chief Human Resources Officer, University of Missouri, said. “This important collaboration with the Treasurer is just one part of the university’s efforts to meet the varied needs of our faculty and staff and deliver on our commitment to supporting the whole employee.”


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.


Today’s announcement is a result of the Treasurer’s effort to increase inclusion and opportunity for employees with disabilities by encouraging employers across the state to add payroll deductions for MO ABLE accounts. Employer partners include SoutheastHEALTH, CoxHealthTruman 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.


MO ABLE currently has 2,672 accounts and nearly $20 million in assets under management, making it one of the largest ABLE programs in the country.


October is National Disability Employment Awareness Month. Throughout the month, Treasurer Fitzpatrick strives to raise awareness and increase access and opportunity for individuals with disabilities.

 

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