Program Name: Alabama ABLE Savings Plan (click to open an account) Phone number: 1-844-711-2253
Status: Open for Enrollment
State Program Manager: Sumday/Vestwell
State Account Limit: $475,000
Accepts Out Of State Residents: Yes
Annual Contribution Limit: $18,000 (This limit is a Federal limit that is required of all states and does not include additional ABLE to Work contributions)
ABLE To Work Act Contribution: An Account Owner who is employed and who is not contributing to a defined contribution plan, an annuity contract or an eligible deferred compensation plan may contribute additional money to his or her ABLE Account. The additional amount that may be contributed is an amount equal to the Account Owner’s employment income or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is the less. This is up to $14,580 for residents of the continental U.S.; $18,210 for residents of Alaska and $16,770 for residents of Hawaii.
Program Banking Institution: BNY Mellon
Number Investment Options: 4
Program Investment Institution(s): Vanguard and DFA
Debit Card Or Prepaid Card: Yes
Withdrawal Hold Rules: Yes.   5 day hold on account owner or Authorized Legal Representative contributions, 10 day hold on third party contributions
Medicaid Estate Recovery Status: Upon the death of the account owner, the state Medicaid agency shall be a creditor for the total medical assistance paid under the State’s Medicaid program on behalf of the account owner after the establishment of the account, upon filing of a claim for payment by such state.
State Income Tax Deduction: Yes. $5,000 for single filers and $10,000 for joint filers
FDIC Insured: Yes. BNY Mellon FDIC Insured account up to $250,000.
ABLE Legislation:


 Alabama Senate Bill 226 implements the federal ABLE act in Alabama

Account Disclosure Document(s):

Please See Plan Disclosure Document

Additional Information:

Do you have a policy for opening an account for an account owner who does not have a guardian or conservator for managing spending and investments from the ABLE account? Yes. Where possible, we would like to help the person with the disability open and manage their own ABLE account. If they are not able to or would like someone else to manage the account we allow for people to serve as Authorized Legal Representatives. Please visit this page for more information:

Does your plan allow for proper account titling for a representative payee? Our ABLE plan allows for representative payees to properly manage the account as Authorized Legal Representative.

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze, if available? Our ABLE plan allows for the payment of funeral and burial expenses as a qualified disability expense (QED) prior to the remaining assets being transferred to the estate of the beneficiary.

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?
    Yes. $5.
  • Is there an annual set fee to maintain the account? If so, how much?
    Yes. $35 per year.
  • 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?
    Yes. $5.00/month
  • 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:
      $35 per year.
    • Check Fee:
      $2.50 per check
    • Debit Card Fee:
    • Investment Option Fee Range:

      Please See Plan Disclosure Document

    • Statement Fee:
      No fee for electronic statements. $10 annually for mailed paper statements.
    • ABLE Account Transfer Fee:
    • Withdrawal Transaction Fee:
  • Are there other characteristics unique to your program?

    From the very beginning, Alabama ABLE was designed to be a self-empowerment tool for people with disabilities. We always presume competence while making sure you have access to any supports you need. Our program was created with the support of people with disabilities and the organizations that serve them.

    Where can I find the ABLE Plan’s investment performance information?

    Description of plan’s Recertification of ABLE Eligibility Policy: The account owner or ALR is responsible for letting the plan know if they are no longer eligible for ABLE. We do not require an annual recertification process.


Alabama ABLE Savings Plan (click to open an account) Phone number: 1-844-711-2253