Legislative Update: MODDC Welcomes Missouri State Treasurer Vivek Malek
Council Chair Animesh Shah, Executive Director Vicky Davidson, and Project Coordinator Leigh Anne Haun attended the swearing-in ceremony of Missouri’s 48th State Treasurer, Vivek Malek.
State Treasurer Vivek Malek is tasked with overseeing the state’s bank accounts, unclaimed property, and Missouri’s investments. He is the first Indian American to hold a statewide office in Missouri. He is an immigration lawyer from St. Louis, but has roots in Cape Girardeau, Mo.
Click here to listen to a recording of his speech from the ceremony.
In Treasurer Vivek Malek’s speech, he stated that his approach centers on what he calls the “Three Ps.”
- Protect tax payer money to ensure investments earn best rate of return for Missourians
- Provide opportunity through growth with programs like MOST, MO ABLE, MO SCHOLARS and MO BUCKS
- Promote the promise of America
MO ABLE is helping Missourians to achieve greater independence and financial security through the power of stable accounts.
MO ABLE provides:
- Access to stable accounts for Missourians with disabilities
- Tax-free savings for disability-related expenses
- The ability to save and invest without losing needs-based benefits
There was an increase in the amount that one can contribute to an ABLE account. In 2023, that amount increased to $17,000 from $16,000.
