Read this on Lutheran Social Service’s (LLS) website.
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Effective January 1, 2022, Lutheran Social Service of Minnesota assumed Pooled Trust services operated by The Arc Minnesota that serves individuals with disabilities. The transition will ensure that individuals served through The Arc Minnesota’s Master Pooled Trust continue to preserve their Pooled Trust assets and maintain eligibility for important public benefits, such as social security income and Medicaid. The change is being made due to the retirement of The Arc Minnesota’s Master Pooled Trust Manager, Steve Egly.
“After much careful consideration around staff capacity, the direction of our programs and services, and the best interest of our beneficiaries, we have decided to transfer the Master Pooled Trust to Lutheran Social Service of Minnesota (LSS),” said Andrea Zuber, CEO from The Arc Minnesota. “We are grateful to the team at LSS for their partnership in this critical transition, and grateful to the many individuals and families who have entrusted The Arc Minnesota with managing their Trust accounts over the last twelve years.”
Lutheran Social Service provides Pooled Trust services to 600 individuals in Minnesota and North Dakota, processing more than $4 million in disbursements to beneficiaries annually. Pooled special needs trusts, managed by nonprofit organizations like Lutheran Social Service, combine the financial resources of beneficiaries to lower administrative costs and optimize investment opportunities. Participation is affordable, pooling funds can achieve better returns on investments than other savings options and accounts can be established quickly – typically within three-to-five days.
Pooled trusts can be established by an individual with disabilities or by a third party, such as family and friends of an individual with special needs. In addition to preserving public benefits, a pooled trust offers a low-cost way for individuals to access funds for expenses not covered by public benefits that bring joy and improve quality of life, such as education, recreational activities, vacation and pet care.
“We are honored to continue this important work to ensure people with disabilities enjoy a high quality of life,” said Roxanne Jenkins, associate vice president for Lutheran Social Service of Minnesota.
In addition to Pooled Trust services, Lutheran Social Service offers a wide variety of other services to individuals with disabilities, including supportive housing, guardianship options, care coordination, conservatorship, Power of Attorney and other services to help individuals manage their personal affairs and live the lives they imagine for themselves.
The Arc Minnesota continues to support individuals with disabilities with individual advocacy, planning, housing, systems change, and more.
Lutheran Social Service of Minnesota began in 1865 when a Lutheran pastor and his congregation opened an orphanage for children near Red Wing in southeastern Minnesota. Today, with 2,500 employees and 10,000 volunteers, Lutheran Social Service helps one in 65 Minnesotans through services that inspire hope, change lives, and build community. Some services, such as Adoption, Financial Counseling, Supported Decision Making and Guardianship Options, Pooled Trust and Senior Companions – support residents in other states as well. Through its mission, the organization seeks to foster safe and supportive homes for children, restore health and wellness in families, empower people with disabilities to live the lives they imagine, and promote health, independence and quality of life for older adults. For comprehensive information about the work of LSS, visit www.lssmn.org.
The Arc Minnesota is a statewide nonprofit organization that works to promote and protect the human rights of people who have intellectual and developmental disabilities, actively supporting them and their families in a lifetime of full inclusion and participation in their communities. People with disabilities and their families trust The Arc for information, assistance, education, and public policy leadership. For more information, visit www.arcminnesota.org.