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UID:615@dev.dscc.uic.edu
DTSTART;TZID=America/Chicago:20170210T100000
DTEND;TZID=America/Chicago:20170210T110000
DTSTAMP:20170207T151433Z
URL:https://dev.dscc.uic.edu/events/state-treasurer-to-host-able-act-infor
 mation-session-in-rockford/
SUMMARY:State Treasurer to Host ABLE Information Session in Rockford
DESCRIPTION:Program will explain how federally tax-advantaged savings progr
 am benefits people with disabilities.\n\nIllinois State Treasurer Michael
  Frerichs is hosting an informational session on Feb. 10 at the State Regi
 onal office Building in Rockford to explain how persons with disabilities
  can benefit from the Achieving a Better Life Experience (ABLE) act.\n\nT
 he Illinois ABLE program is a tax-advantaged investment program that provi
 des persons with blindness or disabilities the option to save for disabili
 ty-related expenses without jeopardizing their federal disability benefits
 .\n\nIllinois leads the National ABLE Alliance\, a partnership of 14 stat
 es with the goal of providing the most robust ABLE services possible at
  the lowest cost to account owners.\n\nABLE investment and banking account
 s can grow tax free and can be used to pay for qualifying\, disability-rel
 ated expenses.\n\nTo qualify for an ABLE account\, the account owner must 
 have developed the disability or blindness before the age of 26. With the 
 age established\, a person who qualifies for Social Security Administratio
 n benefits\, or has received a waiver from the IRS\, will qualify for an A
 BLE account.\n\nAnnual contribution limits are tied to the federal gift ta
 x amount\, which today is $14\,000. The ABLE investment can grow up to $10
 0\,000 and still not be counted toward eligibility for Social Security Inc
 ome or other means-tested programs at the federal level. When an ABLE acco
 unt balance exceeds the $100\,000 cap\, Social Security Income benefits ar
 e suspended. The benefits automatically resume if the account value falls 
 below $100\,000. ABLE balances have no implications on Medicaid eligibilit
 y.\n\nFor more information\, visit www.IllinoisABLE.com.\n\n&nbsp\;
CATEGORIES:Education
LOCATION:State Regional Office Building\, Conference Room A and B\, 4302 N.
  Main St.\, Rockford\, IL \, United States
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