By WJBC Staff

SPRINGFIELD – Illinois and 13 other states are teaming up to offer tax free investment opportunities for disability related expenses.

State Treasurer Mike Frerichs has launched the Illinois ABLE (Achieving for a Better Life Experience) program. He said it will be a great tool for covering expenses.

“For these families who will be able to save money,” Frerichs said. “If they don’t need it right now, they can invest that and the growth they won’t pay taxes on as long as that money is used for a disability-related expense. That covers many, many different things.”

Chris Newlon’s daughter Rebecca has Down Syndrome, a heart condition and hearing loss. Newlon said these savings accounts will mean the difference between Rebecca simply existing, and living a really good life.

“My daughter and thousands of others who want to live as independently as possible will be able to save for the education, get the supports and services they might need in school and get the necessary training for a meaningful job,” Newlon said.

Families can start an investment account with as little as $25. More details are available at www.illinoisable.com.