Program Name: DEPENDABLE (Click to open an account)
Status: Open for Enrollment
State Program Manager: Ascensus
State Account Limit: $350,000
Accepts Out Of State Residents: Yes
Annual Contribution Limit: $15,000
ABLE To Work Act Contribution: $12,140
Number Investment Options: 6
Program Investment Institution(s): BlackRock, Schwab and Vanguard
Debit Card Or Prepaid Card: No
Withdrawal Hold Rules: Yes
Medicaid Payback Waived: No.
State Income Tax Deduction: No.
FDIC Insured: Yes
ABLE Legislation:

Delaware Achieving a Better Life Experience Savings Accounts:


Account Disclosure Document(s):

Account Disclosure Document

Additional Information:

Program Administrator: Delaware Office of the State Treasurer

Program Investment Manager: BlackRock, Schwab and Vanguard provide the mutual funds and/or ETFs in the target risk options. Sallie Mae Bank provides the high yield savings account in the applicable target risk options. Fifth Third Bank provides the checking account product in the checking option.

Please see the disclosure document regarding more information on: investment options risk, withhold rules, how to reduce account fees, ABLE to Work Act limits and Medicaid payback. The checking option offers FDIC insurance up to $250,000, subject to certain restrictions.

Program at a Glance

  • Is there an initial minimum contribution requirement to open an ABLE account? If so, how much?
    Yes. $25.
  • Is there a required minimum contribution to your account? If so, what is the amount?
  • Is there an annual set fee to maintain the account? If so, how much?
    Yes. The current account maintenance fee is $45 annually, payable at $11.25 quarterly. With paper statements, the annual fee is $60, payable at $15 quarterly.
  • Are there fees or restrictions to the number of disbursement you are allowed? If so, what are they?
  • Is there a “debit card/purchasing card” available with the program? If so, what is the added cost?
  • Can I roll over my ABLE account to another ABLE program? If so, what is the fee to do so?
    Yes. $0.
  • Fee Range
    • Annual Maintenance Fee:
      Each account is charged an account maintenance fee of $15 each quarter. This fee can be discounted by $3.75 if you select email delivery for statements and confirmations. The fee can be discounted by another $1.25 if the account owner or authorized individual is a resident of Delaware.
    • Check Fee:
      $0. Check book fee of $6
    • Debit Card Fee:
    • Investment Option Fee Range:
      $3.40 to $3.70 on $1,000 investment per year.
    • Statement Fee:
    • ABLE Account Transfer Fee:
    • Withdrawal Transaction Fee:
Scroll Up