Throughout August (also known as ABLE to Save Month), my team and I have hit the pavement to talk about the benefits of an ABLE Savings Account for those with disabilities and their families. Since 2014, thousands of Americans have achieved greater financial stability as a result of these tax-advantaged savings accounts. But they do have their limits. Under the … Read More
McRae Calls on Congress to Pass the ABLE Age Adjustment Act
State Treasurer David McRae today called on Congress to pass the ABLE Age Adjustment Act. Currently, disabled Americans are eligible to open an ABLE savings account, if their disability presented before age 26. This is called the “age of onset.” If the ABLE Age Adjustment Act is passed, the age of onset would be pushed to 46 years old, giving … Read More
McRae: Did I wait too long to save for my child’s college education?
By the time your child is nine years old, they are halfway to college. As the father of a 10-year-old, that’s a pretty startling sentence to write, but I think it helps put it in perspective for a lot of us parents who think we have an eternity until their kids are old enough to live independently. That said, many … Read More
McRae: ABLE to Save Month
August is ABLE to Save Month, a time to highlight a savings program that is very special to me and the entire team at the State Treasury. For those who are unfamiliar with the ABLE Savings Program, prior to 2014, Americans with disabilities were extremely limited in how much they were able to save. In fact, just $2,000 in savings … Read More
McRae: Preparing for the Unexpected
How prepared are you for the unexpected? Let’s face it: Life happens. You lose your job. There’s an unexpected medical bill or an unplanned home repair. Do you have enough money to cover those things if they happened tomorrow? For many, the answer is no. Most banks and financial gurus advise having an emergency fund that can cover three months … Read More
McRae: End-of-Summer Learning Ideas for Kids
We are now just weeks away from the start of another school year. Summer vacations are wrapping up. Back-to-school sales have taken over retail stores. And the state is even offering a sales tax holiday on qualifying school supplies (including clothes, tablets, and more) on July 30-31. For most kids, the summer break has been a time to relax and … Read More
McRae: Your Questions Answered
One of my priorities as Mississippi Treasurer is to make state government more accessible to you, the taxpayer. So, this July, I held my first telephone town hall, which gave me the opportunity to update Mississippians on the work our team is doing and take any questions you had. I am incredibly humbled to report that more than 4,000 Mississippians … Read More
Treasury Returns $30 Million in Unclaimed Money
State Treasurer David McRae today announced the Mississippi Treasury has returned more than $30 million in unclaimed money since he took the helm in January 2020. The returns have been made through 10,000 separate claims. “I am incredibly proud of our unprecedented effort to return unclaimed money to the people of Mississippi,” said Treasurer McRae. “This money has become a … Read More
Q&A with Treasurer David McRae | Why College Savings MS may be the perfect destination for your Child Tax Credit payments
I’ll be honest: the last thing on my kids’ minds right now is school. They are taking in every ounce of summer they can, and I wouldn’t change that for the world. But by the time summer ends, they’ll be a grade level higher – and a step closer to college. Are you ready? For most families, the answer is: … Read More
$30 Million Economic Stimulus
There has been a lot of talks about economic stimulus over the last year. Unfortunately, the programs out of Washington have come with a hefty price tag for taxpayers, pushing the national debt to nearly $30 trillion and sparking vigorous debates about inflation. Economists will long discuss the real impact of these “stimulus” packages, but I know many who are … Read More