The Michigan Department of Treasury is responsible for collecting, disbursing, and investing all state monies. The Department advises the Governor on all tax and revenue policy, collects and administers over $20 billion a year in state taxes, and safeguards the credit of the state. The Department is also responsible for the fiscal health of Michigan’s local governments and schools. In addition, the Treasurer invests over $65 billion of the State and school employees retirement funds.
The federal Achieving a Better Life Experience (ABLE) program was created to encourage and assist individuals and families in saving funds for the purpose of supporting individuals with disabilities to maintain health, independence and quality of life; and to provide secure funding for qualified disability expenses on behalf of designated beneficiaries with disabilities without jeopardizing benefits provided through private insurance, the Supplemental Security Income (SSI) program, the Medicaid program, the beneficiary’s employment and other sources.