Compare 529 Plans by Features

Summary

On May 17, 2021 Alabama terminated its involvement with the Enable program and launched its own ABLE program called the Alabama ABLE Savings Plan. The plan is administered by the Alabama State Treasurer and will be the Official ABLE Plan of Alabama. The plan is established pursuant to the Alabama ABLE Act, §16-33C-1 through 25, Code of Alabama, as amended. The plan is designed to be a "qualified ABLE program" under Code Section 529A, which status permits a beneficiary of an ABLE Account established under the plan to make tax-free withdrawals to pay for qualified disability expenses under certain circumstances.

The Alaska ABLE Plan is offered through the National ABLE Alliance. The plan is established under the Alaska ABLE Savings Program Act and Section 529A to provide financial accounts for individuals with disabilities. The Alaska ABLE Plan is created within the Alaska Department of Revenue, which is the state agency responsible for implementing and administering the Alaska ABLE Plan.

The State of Arizona has partnered with the State of Ohio to offer AZ ABLE, a program that offers the STABLE Account Plan to eligible Arizona residents. The STABLE Account Plan is established pursuant to Ohio law (Ohio Revised Code §113.50-§113.56) in accordance with Section 529A, and is structured and operated by the Ohio Treasurer's Office and its Service Providers. HB2388 is the legislation that establishes the Arizona ABLE Act program, AZ ABLE. The Arizona Department of Economic Security administers this program.

The Arkansas ABLE Plan is offered through the National ABLE Alliance. The program is established under the state's ABLE legislation and Section 529A and administered by the Office of the Arkansas State Treasurer. It allows an account owner to save for qualified disability expenses without disqualification from federal benefits.

CalABLE is offered by The California Achieving a Better Life Experience (ABLE) Act Board. Assets in CalABLE are held in the CalABLE ABLE Program Trust for which the Board serves as the trustee. TIAA-CREF Tuition Financing serves as program manager. The plan offers three target risk investment options and one FDIC-Insured portfolio.

The Colorado ABLE Program is established under the state's ABLE legislation and Section 529A and implemented by CollegeInvest, a not-for-profit division within the Colorado Department of Higher Education. It allows an account owner to save for qualified disability expenses without disqualification from federal benefits.

The ABLE CT Program is offered through the National ABLE Alliance. The program is created under Connecticut Public Act 15-80 which was passed in 2015 to authorize the establishment of savings accounts empowering individuals with a disability and their families to save private funds to support the individual with a disability and to provide guidelines for the maintenance of such accounts.

Delaware's DEPENDABLE ABLE Plan is offered through the National ABLE Alliance. DEPENDABLE is established under the Enabling Legislation and Section 529A of the federal tax code to encourage and assist individuals and families in saving personal funds for the purpose of supporting individuals with disabilities to maintain health, independence, and quality of life. DEPENDABLE is administered by the Delaware Plans Management Board pursuant to state legislation. The Board receives administrative support from the Delaware Office of State Treasurer.

The DC ABLE Program is offered through the National ABLE Alliance. The program is created under the District of Columbia's ABLE Program Trust Establishment Act of 2015 to authorize the establishment of savings accounts empowering individuals with a disability and their families to save private funds to support the individual with a disability and to provide guidelines for the maintenance of such accounts.

ABLE Accounts encourage individuals with a disability and their families to save private funds to support health, independence, and quality of life. In July 2015, the State of Florida created Florida ABLE, Inc. (d/b/a ABLE United) a registered not-for-profit and direct support organization of the Florida Prepaid College Board to administer the ABLE United Program.

The State of Georgia has partnered with the State of Ohio to offer Georgia STABLE, a program that offers the STABLE Account Plan to eligible Georgia residents. The STABLE Account Plan is established pursuant to Ohio law (Ohio Revised Code §113.50-§113.56) in accordance with Section 529A, and is structured and operated by the Ohio Treasurer's Office and its Service Providers.

Hawai'i has partnered with the State of Oregon and their ABLE for ALL Savings Plan. The National Program ABLE for ALL Savings Plan is available without regard to the beneficiary's state of residence. The Hawai'i ABLE Savings Program is a participant in the National Program.

Illinois ABLE is offered through the National ABLE Alliance. The plan is established under the Illinois ABLE account program legislation and Section 529A to encourage and assist individuals and families in saving private funds for the purpose of supporting individuals with disabilities to maintain health, independence, and quality of life, and to provide secure funding for disability-related expenses on behalf of designated beneficiaries with disabilities that will supplement, but not supplant, benefits provided through private insurance, federal and Illinois medical and disability insurance, the beneficiary's employment, and other sources.

INvestABLE Indiana is offered through the National ABLE Alliance. INvestABLE is established under the state's ABLE legislation and Section 529A to encourage and assist individuals and families in saving private funds for the purpose of supporting individuals with disabilities. The plan allows for the creation of tax-advantaged savings accounts for individuals with disabilities to pay for disability related expenses without endangering access to vital public benefits.

IAble, Iowa's Achieving a Better Life Experience (ABLE) plan, is offered through the National ABLE Alliance. The program is sponsored and administered by the State Treasurer of Iowa. IAble is part of the Iowa Able Savings Plan Trust, which was created under State legislation in 2015. Established as an investing vehicle to allow individuals with disabilities and their support system the opportunity to save and invest money for Qualified Disability Expenses without risking essential federal government benefits, IAble is a qualified ABLE program under Section 529A and any regulations and other guidance issued thereunder.

The Kansas ABLE Savings Plan is offered through the National ABLE Alliance. The plan is created under the state's ABLE legislation to authorize the establishment of savings accounts empowering individuals with a disability and their families to save private funds to support the individual with a disability and to provide guidelines for the maintenance of such accounts.

The Commonwealth of Kentucky has partnered with the State of Ohio to create STABLE Kentucky, a program that offers the STABLE Account Plan to eligible Kentucky residents for lower annual investment fees than would otherwise be available.

The Louisiana Achieving a Better Life Experience (ABLE) Account Program allows individuals and families to save private funds to support persons with disabilities in endeavors to maintain health, independence, and quality of life.

The ABLE ME Program is established and maintained by the Maine State Treasurer and administered by Bangor Savings Bank. The ABLE ME Program is intended to operate as a qualified ABLE program, pursuant to Internal Revenue Code Section 529A, that was adopted as part of The Stephen Beck, Jr., Achieving a Better Life Experience Act of 2014, as amended.

Maryland ABLE is established pursuant to the ABLE Act and the Maryland Achieving a Better Life Experience Act signed into law April 12, 2016. Maryland ABLE is directed and administered by the Maryland 529 Board. Sumday Administration, LLC provides administrative and record-keeping services to the program under the direction of the Maryland 529 Board and Marquette Associates serves as investment advisor. The program is designed to be a "qualified ABLE Program", which status permits a beneficiary of an ABLE account established under the program to contribute and invest funds, enjoy tax-free growth on the earnings of the account, and make tax-free withdrawals to pay for qualified disability expenses under certain circumstances.

The Attainable Savings Plan is offered by the Massachusetts Educational Financing Authority and managed by Fidelity Investments.

The mission of Michigan Achieving a Better Life Experience Plan is to encourage and assist the saving of private funds to help persons with disabilities cover costs that support their health, independence, and quality of life.

The Minnesota ABLE Plan is offered through the National ABLE Alliance. The plan was established under the state's ABLE legislation to encourage and assist individuals and families in saving private funds for the purpose of supporting individuals with disabilities to maintain health, independence, and quality of life, and to provide secure funding for disability-related expenses on behalf of designated beneficiaries with disabilities that will supplement, but not supplant, benefits provided through private insurance, the Medicaid program under title XIX of the Social Security Act, the Supplemental Security Income program under title XVI of the Social Security Act, the beneficiary's employment, and other sources.

The Mississippi ABLE Plan is offered through the National ABLE Alliance. The program is established under the state's ABLE legislation and Section 529A and administered by the Mississippi ABLE Board. It allows an account owner to save for qualified disability expenses without disqualification from federal benefits.

The State of Missouri has partnered with the State of Ohio to create MO ABLE, a program that offers the STABLE Account Plan to eligible Missouri residents for lower annual investment fees than would otherwise be available.

The Montana ABLE Program is offered through the National ABLE Alliance. The program is created under the Montana Achieving a Better Life Experience Act to authorize the establishment of savings accounts empowering individuals with a disability and their families to save private funds to support the individual with a disability and to provide guidelines for the maintenance of such accounts.

The Enable Savings Plan is issued by The Nebraska Achieving a Better Life Experience Program Trust and administered by the Nebraska State Treasurer, who serves as trustee to the Plan. The Plan offers a series of investment options within the Nebraska Achieving a Better Life Experience Program Trust. The Plan is intended to operate as a qualified ABLE program, pursuant to Internal Revenue Code Section529A.

ABLE Nevada is offered through the National ABLE Alliance. ABLE Nevada is established and administered by the Office of the Nevada State Treasurer in cooperation with the Aging and Disability Services Division of the Department of Health and Human Services. The state's ABLE legislation authorizes the creation of ABLE Nevada within the Aging and Disability Services Division of the Department of Health and Human Services to provide independent living services and assistive technology for persons with disabilities who need independent living services.

New Hampshire enacted SB 265 (now known as RSA 195-K), which allows for the establishment of an ABLE savings account program here in the state. The State of New Hampshire has partnered with the State of Ohio to create STABLE New Hampshire, a program that offers the STABLE Account Plan to eligible New Hampshire residents for lower annual investment fees than would otherwise be available.

The NH ABLE Plan is to help individuals with disabilities save and invest money without jeopardizing their eligibility for certain means-tested benefit programs. It offers tax-advantaged savings accounts that can be used to pay for qualified disability expenses. The plan allows individuals to save and invest funds over time, with earnings on investments accumulating tax-free. The NH ABLE Plan aims to provide individuals with disabilities greater financial independence and flexibility in managing their expenses while maintaining their eligibility for important government assistance programs.

The NJ ABLE Plan is offered through the National ABLE Alliance. The program is established under the state's ABLE legislation and Section 529A and administered by the New Jersey Department of the Treasury, in cooperation with the New Jersey Department of Human Services. It allows an account owner to save for qualified disability expenses without disqualification from federal benefits.

The State of New Mexico has partnered with the State of Ohio to create ABLE New Mexico, a program that offers the STABLE Account Plan to eligible New Mexico residents. The STABLE Account Plan is established pursuant to Ohio law (Ohio Revised Code §113.50-§113.56) in accordance with Section 529A, and is structured and operated by the Ohio Treasurer's Office and its Service Providers.

NY ABLE is issued by New York Achieving a Better Life Experience (ABLE) Savings Account Program and administered by the Office of the Comptroller of the State of New York, who serves as program administrator.

NC ABLE is offered through the National ABLE Alliance. NC ABLE was established within the North Carolina Department of State Treasurer to enable qualified individuals to save and invest, without losing means-tested benefits and supports. Funds in an NC ABLE account that are used for qualified disability expenses are tax-advantaged and are not considered income for means-tested benefits such Medicaid and Social Security Income.

Ohio House Bill 155 implements the federal ABLE Act in Ohio. The Office of Ohio Treasurer administers STABLE Accounts. STABLE Accounts have been developed pursuant to Section 529A of the Internal Revenue Code of 1986, as amended ("Section 529A"). ABLE plans established and maintained in accordance with Section 529A are intended to be used for the qualified disability expenses of a particular eligible Beneficiary.

The State of Oklahoma has partnered with the State of Ohio to offer Oklahoma STABLE, a program that offers the STABLE Account Plan to eligible Oklahoma residents. The STABLE Account Plan is established pursuant to Ohio law (Ohio Revised Code §113.50-§113.56) in accordance with Section 529A, and is structured and operated by the Ohio Treasurer's Office and its Service Providers.

The ABLE for All plan is established pursuant to the ABLE Act and sections 178.300 to 178.380 of the Oregon Revised Statutes, as amended (the "Oregon Act"). The plan is designed to be a "qualified ABLE program", which status permits a beneficiary of an ABLE Account established under the plan to make tax-free withdrawals to pay for qualified disability expenses under certain circumstances.

The Oregon ABLE Savings Plan is established pursuant to the ABLE Act and sections 178.300 to 178.380 of the Oregon Revised Statutes, as amended (the "Oregon Act"). The Plan is designed to be a "qualified ABLE program", which status permits a beneficiary of an ABLE account established under the plan to make tax-free withdrawals to pay for qualified disability expenses under certain circumstances.

The Pennsylvania ABLE Savings Program is offered through the National ABLE Alliance. The program is a tax-advantaged savings program offered by the Commonwealth of Pennsylvania to assist individuals with disabilities and their families in saving for disability-related expenses without jeopardizing their government benefits.

RI's ABLE is offered through the National ABLE Alliance. The program was established within the Executive Office of Health and Human Services and administered in conjunction with the State Investment Commission for the purposes of administering ABLE accounts established to encourage and assist individuals and families in saving private funds for the purpose of supporting individuals with disabilities. Under RI's ABLE, one or more persons may make contributions to an account to meet the qualified disability expenses of the Account Owner.

The State of South Carolina has partnered with the State of Ohio to bring the Palmetto ABLE Savings Program, a program that offers the STABLE Account Plan to eligible South Carolina residents. The STABLE Account Plan is established pursuant to Ohio law (Ohio Revised Code §113.50-§113.56) in accordance with Section 529A, and is structured and operated by the Ohio Treasurer's Office and its Service Providers.

ABLE TN is administered by the Tennessee Department of Treasury and is a savings program designed to help individuals with disabilities put aside money to pay for qualified expenses. These accounts provide the opportunity to save and invest, with tax-free earnings, to help participants maintain independence and quality of life.

The Texas Achieving a Better Life Experience (Texas ABLE) Program was established to encourage and assist individuals with disabilities and their families in saving funds to pay for many disability-related expenses critical to maintaining the individuals' health, independence, and quality of life. The Texas ABLE Program is established and maintained by the Texas Prepaid Higher Education Tuition Board with assistance from the Texas Comptroller of Public Accounts.

The State of Utah has partnered with the State of Ohio to create ABLE Utah, a program that offers the STABLE Account Plan to eligible Utah residents for lower annual investment fees than would otherwise be available. ABLE Utah accounts allow individuals with disabilities to save and invest money without losing eligibility for certain public benefits programs, like Medicaid or SSI. Earnings in an ABLE Utah account are not subject to federal income tax, so long as the earnings are spent on qualified disability expenses.

Through the Vermont ABLE program, the Vermont Treasurer's Office is offering STABLE Accounts to Vermonters with disabilities. STABLE Accounts allow individuals with disabilities to save and invest money without losing eligibility for certain public benefits programs, like Medicaid, SSI, or SSDI. Earnings in your STABLE Account are not subject to federal income tax, so long as you spend them on qualified disability expenses.

American Funds offers ABLEAmerica, the first ABLE plan available through financial advisors for individuals with disabilities and their families.

The ABLEnow Program allows eligible individuals to save for qualified disability expenses on a tax-advantaged basis without jeopardizing eligibility for federal means-tested benefits, such as Supplemental Security Income and Medicaid.

The Washington State ABLE Savings Plan is established pursuant to the ABLE Act and the Washington Achieving a Better Life Experience Act ("The Washington Act"). The plan is designed to be a "qualified ABLE program", which status permits a beneficiary of an ABLE account established under the plan to make tax-free withdrawals to pay for qualified disability expenses under certain circumstances.

The State of West Virginia has partnered with the State of Ohio to create WVABLE, a program that offers the STABLE Account Plan to eligible West Virginia residents. The STABLE Account Plan is established pursuant to Ohio law (Ohio Revised Code §113.50-§113.56) in accordance with Section 529A, and is structured and operated by the Ohio Treasurer's Office and its Service Providers.

The State of Wyoming has partnered with the State of Ohio to create WYABLE, a program that offers the STABLE Account Plan to eligible Wyoming residents. The STABLE Account Plan is established pursuant to Ohio law (Ohio Revised Code §113.50-§113.56) in accordance with Section 529A, and is structured and operated by the Ohio Treasurer's Office and its Service Providers.