Palmetto ABLE Savings Program
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.
- Program typeABLE Savings Plan
- Investment ManagerMarquette Associates is the Investment Advisor, and The Vanguard Group and Fifth Third Bank are the providers of the investment options.
- State agencyOffice of the South Carolina Treasurer
- Program ManagerIntuition ABLE Solutions, LLC
State residency requirements:
Who can be a participant/owner in the program?
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