Illinois State Treasurer Michael Frerichs announced a groundbreaking partnership that brings together 14 states to encourage individuals to invest money on behalf of people with a disability or blindness without jeopardizing their federal disability benefits. Illinois leads the National Achieving a Better Life Experience (ABLE) Alliance, the country’s largest multi-state agreement for these special investment tools that allow for tax-free investment growth when proceeds are spent on qualifying disability-related expenses. Monday’s announcement culminates nearly two years of negotiations and additional states also can join the Illinois-led group. Ascensus College Savings of Newton, Mass., administers the program following an open and competitively bid process. The initial five-year contract can be extended up to an additional five years. The states jointly negotiated a master contract with Ascensus and then each state negotiated additional details to reflect their unique needs. The National ABLE Alliance includes Alaska, Arizona, Illinois, Indiana, Iowa, Kansas, Missouri, Minnesota, Montana, Nevada, New Jersey, North Carolina, Pennsylvania and Rhode Island. The fee structure is the lowest in the nation. Costs will vary by participant depending upon the investment strategy. The typical fee will be 34 basis points, which is 34 cents for every $100 invested. Ascensus will work with BNY Mellon and Fifth Third Bank. Illinois’ ABLE investment program is open to residents of other states. In Illinois, 36,000 accounts are expected to be opened by in-state residents in the first five years. Across the consortium, 500,000 accounts are expected. To sign up, or for more information about the direct-sold plans in Illinois, visit www.IllinoisABLE.com. Forms will be printable online, can be requested by calling Illinois’ ABLE phone line at (888) 609-8683, and will be available at all treasurer’s office locations.