(The Center Square) – Illinois Treasurer Michael Frerichs says the state’s updated disability savings program can help keep people who save money from losing public benefits.
On Tuesday, Frerichs announced lower fees, updated investment options and a new mobile app for Able UP accounts, formerly known as Illinois ABLE. The program is not limited to Illinois residents, but Illinois taxpayers who contribute to an Able UP account may qualify for a state income tax deduction.
Frerichs said, before the ABLE program, people receiving Supplemental Security Income, Medicaid and other benefits based on income and savings often could not build meaningful savings without risking the loss of assistance.
Federal law expanded ABLE account eligibility on January 1, 2026. Previously, a person’s disability or qualifying medical condition had to begin before age 26. Now, eligible people whose disability or qualifying medical condition began before age 46 can open an ABLE account.
Small biz uncertainty index drops, optimism ticks down
The NFIB Uncertainty Index dropped six points to 84 last month, its lowest level since December 2025, while the NFIB Small Business Optimism ticked down 0.1 point in October to 97.8.
Although optimism held steady and uncertainty eased, NFIB Illinois State Director Noah Finley said Illinois employers continue to face high taxes, rising health insurance costs and workforce challenges.
Illinois tax preparer sentenced for COVID-19 fraud scheme
An Orland Park woman has been sentenced to three years in prison and ordered to pay more than $11 million in restitution plus a forfeiture judgment of nearly $2 million for running a pandemic assistance and unemployment benefits scheme.
Prosecutors said Hiam Hmaidan, 54, abused her position as a tax preparer and, along with co-conspirators, submitted nearly 700 fraudulent unemployment insurance claims from May 2020 through December 2022.
