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.
- 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.
- Inception2021
- State agencyUtah Department of Workforce Services and Utah State Treasurer's Office
- Program ManagerSumday Administration, LLC
Investment Options
Investors in ABLE Utah can select from the following investment options. Click on a portfolio name for more information.
Sometimes referred to as the enrollment-based option, this is an investment approach where your asset allocation is programmed to change over time. Accounts for young beneficiaries are invested aggressively and accounts for beneficiaries with college right around the corner are invested much more conservatively. In some 529 plans, the age-based option operates by automatically transferring your investment from one static portfolio to another at certain points in time. Others utilize lifecycle funds or employ lifecycle-type tactics within the portfolio containing your investment so that it is not necessary to transfer your investment between portfolios.
