PRESS RELEASE
Treasurer Fitzpatrick Recognizes #ABLEtoSave Month 2022
Jefferson City, MO – Missouri State Treasurer Scott Fitzpatrick today
recognized August as #ABLEtoSave Month. Sponsored by the ABLE National Resource Center, #ABLEtoSave
Month strives to raise awareness about ABLE programs, including Missouri’s MO
ABLE, and their valuable benefits for individuals with disabilities. “MO ABLE can have a
life-changing impact on the lives of individuals with disabilities and their
families,” Treasurer Fitzpatrick said. “Empowering individuals with
disabilities to save their own money without the fear of losing necessary
federal benefits is a huge step forward. Spreading the word about MO ABLE has
been a priority for me since I took office in 2019. In that time, the program
has more than tripled in size and remains one of the largest ABLE programs in
the country. There are still many people who can benefit from this program and
I will continue working to spread the word.” MO ABLE, which celebrated its
fifth anniversary in April, 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. This means participants can build financial
wellness and be empowered to save for the future while retaining eligibility
for their means-tested benefits. 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, 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
3,200 accounts and over $23 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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