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ABLEAmerica

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

  • Program type
    ABLE Savings Plan
  • Investment Manager
    American Funds
  • Inception
    2018
  • State agency
    Virginia529
  • Program Manager
    American Funds Service Company, American Funds Distributors and Capital Research and Management Company

Eligibility

State residency requirements:

Who can be a participant/owner in the program?

Program restrictions:

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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

Contributions

Maximum contributions:

Minimum contributions:

Investment Options

Target-Risk Options:

Bank Money Market Investment / Checking Option:

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Fees & Expenses

Enrollment or application fee:

Account maintenance fee:

Program management fees:

Expenses of the underlying investments:

Total asset-based expense ratio:

Taxes and other Benefits

Program match on contributions:

State tax deduction or credit for contributions:

State tax recapture provisions:

State definition of qualified expenses

State tax treatment of qualified distributions:

State tax treatment of rollovers:

Medicaid eligibility

Medicaid recapture provisions

Statutory protection of an account from creditors:

Distributions & Terminations

To whom are distributions made payable:

Account Changes

Policy regarding participant/owner changes:

Documents, Access & Reporting

Can the complete enrollment process including funding be done online?

Documents and other services accessible or downloadable on the program's public Web site:

Contact

Website:

Telephone:

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See the best 529 plans, personalized for you
See the best 529 plans, personalized for you
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