ABLE Accounts

What does ABLE stand for?

• Acting Better for Life Expenses

• Achieve a Better Life Experience

• A Bank for Life Expenses

• Awesome Banking for Life Experiences

Finish the Sentence: The ABLE act allows eligible people with disabilities to save and invest money to pay for...

• Qualified Disability Expenses

• Qualified Diagnostic Testing

• An Xbox

• Qualified Disability Experiences

True or False: An individual's government benefits are NOT affected unless the account exceeds $100,000.

• True

• False

Which individual is NOT eligible for an ABLE account?

• A person with ID who receives SSI benefits.

• A person with autism who is eligible for SSI.

• A person with a mobility impairment who receives SSDI.

• A person who was diagnosed with autism at age 28.

Which expense(s) can be considered a Qualifying Disability Expense?

• PlayStation

• Rent

• Peloton Bike

• Job Coach

Which is NOT an investment option with IL ABLE?

• Aggressive

• Growth

• Moderately Conservative

• Mildly Aggressive

True or False: A benefit to opening an ABLE Account is that you can rollover a 529 College Savings Account.

• True

• False

How can you open an ABLE Account (check all that apply)?

• Online

• Over the phone

• Via Email

• Via Mail

What information is needed to open your child's ABLE Account (check all that apply)?

• First/Last Name

• Birthdate

• Social Security Number or Taxpayer ID

• Their employment information