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. Vestwell Tuition Financing serves as program manager. The plan offers three target risk investment options and one FDIC-Insured portfolio.
- Program typeABLE Savings Plan
- Investment ManagerBNY Mellon Advisors
- Inception2018
- State agencyThe California ABLE Act Board
- Program ManagerProgram managed by Vestwell State Savings, LLC.
Eligibility
State residency requirements:
Who can be a participant/owner in the program?
Program restrictions:
Did you know?
The plan can be used to pay for qualified disability expenses.
This can include education, job training and support, healthcare and financial management.
Savings in an ABLE account will not impact eligibility to receive government benefits.
The first $100,000 is exempt from the Supplemental Security Income limit, and beneficiaries will continue to receive Medicaid regardless of account size.
Residents are not limited to investing in their own state’s ABLE plan.
Another state may offer a plan with better suited investment options, lower fees or preferred features.
Visit this plan’s website to learn more
Contributions
Maximum contributions:
Minimum contributions:
Does the program offer an e-gifting platform for receiving gift contributions?
Investment Options
Target-Risk Options:
Bank Money Market Investment / Checking Option:
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