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.
- Program typeABLE Savings plan
- Investment ManagerUnderlying mutual funds and ETFs managed by BlackRock, Schwab, and Vanguard. Sallie Mae Bank provides the high yield savings account and Fifth Third Bank, National Association provides a checking account product.
- State agencyOffice of the Connecticut State Treasurer
- Program ManagerAscensus
State residency requirements:
Who can be a participant/owner in the program?
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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
Bank Money Market Investment / Checking Option:
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