California

Program Name: CalABLE (click to open an account) Phone: 1.833.225.2253
Status: Open for Enrollment
ABLE Plan Flyer: https://calable.ca.gov/uploads/ca-able/attachments/cm6f4oefq7bvq0jpc6stkfg63-fact-sheet-english-ada.pdf
State Program Manager: Vestwell State Savings, LLC effective August 21, 2023
State Account Limit: $529,000
Accepts Out Of State Residents: Yes
Rep. Payee Multiple Access: Yes. Call the ABLE plan to discuss the option to enroll multiple account owners and manage the accounts.
Annual Contribution Limit: $20,000 (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 their ABLE Account. The additional amount that may be deposited 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 less. This is up to $15,650 for residents of the continental U.S.; $19,550 for residents of Alaska and $17,990 for residents of Hawaii.
Program Banking Institution: Bank of New York Mellon (BNY Mellon)
Number Investment Options: 8
Program Investment Institution(s): Vanguard, Fidelity, Schwab, BNY Mellon
Debit Prepaid Card Feature: Yes, the ABLE plan True Link Cards offer different levels of spending on qualified disability expenses and tracks QDEs for the ABLE account owner and authorized legal representative.
Withdrawal Hold Rules: Yes.   If a bank account has been added or changed recently, there is a holding period before withdrawals can be made to that account. For bank accounts connected via Plaid, the holding period is typically 5 business days. For manually connected bank accounts, the holding period is typically 10 business days. Address Changes for Check Withdrawals: For security purposes, recently changed or added addresses cannot be used to receive check withdrawals. The exact waiting period may vary depending on the plan. You can make withdrawals of at least $5 at any time online. A transfer can take 2-5 business days to complete, depending on how the money is allocated. You can request a check( opens in a new window ) to be sent to you or a third-party payee. The check should arrive in 5-7 business days.
Medicaid Estate Recovery Status: Exceptions to Medi-Cal Recovery in California have changed. Upon the death of the ABLE account owner, after the payment of outstanding Qualified Disability Expenses (which may include funeral and burial expenses), funds may be used to reimburse the state for Medi-Cal-related services. The amount of any Medi-Cal payback is calculated based on amounts paid by Medi-Cal after the creation of the ABLE account and excludes amounts paid by the beneficiary as premiums to a Medi-Cal buy-in program. Any remaining funds are payable to the Estate or to a successor designated beneficiary if one was appointed before the death of the original account owner. Among other things, estates valued at less than $208,850 (as of 2025) are not subject to formal probate. This $208,850 threshold is subject to change periodically.
State Income Tax Deduction: No.
FDIC Insured: Yes. Account assets in the FDIC-Insured Portfolio are 100% invested in an interest -bearing custodial account at the Bank of New York Mellon and are FDIC insured up to $250,000, subject to certain FDIC limits and restrictions.
ABLE Legislation:

Assembly Bill 449 (2015) implements the federal ABLE Act in California

*AB-339 Qualified ABLE Program: age limit (Irwin)*AB-339 Qualified ABLE Program: age limit (Irwin)

Account Disclosure Document(s):

Please See Plan Disclosure Document

• 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. $1.
• Is there an annual set fee to maintain the account? If so, how much?
  Yes. The annual fee for a CalABLE account is $30, which is deducted in quarterly installments directly from the account. Additionally, there are low fees on the underlying investment options and a state administrative fee.
• Are there fees or restrictions to the number of disbursement you are allowed? If so, what are they?
  No. There are no restrictions on the number of withdrawals that can be taken. There are no fees with withdrawals taken by check or ACH.
• Is there a “debit card/purchasing card” available with the program? If so, what is the added cost?
  Yes. $2.50 per month (currently waived)
• 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:
    $30 per year withdrawn in 4 quarterly installments.
  • Check Fee:
    There is no fee for requesting a check to be sent to you or a third-party payee.
  • Investment Option Fee Range:
    

    https://calable.ca.gov/historical-performance

  • Statement Fee:
    There are no fees for electronic statements. For those who opt for paper statements, the fee is $10 ($2.50 assessed quarterly)
  • ABLE Account Transfer Fee:
    $0
  • Withdrawal Transaction Fee:
    There is no charge for withdrawals.
• Are there other characteristics unique to your program?
  

  Entity Enrollments and online Entity Account Management
  – Unique gifting solution that allows family and friends to contribution via ACH,
  – Debit Card, and Checks
  – Direct Deposit of SSA Benefits or Payroll
  – Authorized Users
  – CalABLE Mobile App
  – Supports 20 languages

  Description of plan’s Recertification of ABLE Eligibility Policy:

  To maintain eligibility for a CalABLE account, beneficiaries must meet the qualifying criteria for an ABLE account. If, in the future, the beneficiary no longer experiences an eligible disability, they will no longer qualify for an ABLE account. In such cases, the beneficiary must update their eligibility status in the account settings or contact customer service.

  Once deemed ineligible, the account can still be used until the end of the year, but only withdrawals will be allowed after that. Please note that there may be tax consequences or impacts on federal benefits associated with this change.

  For more information on eligibility criteria, you can visit CalABLE Eligibility.
  https://calable.ca.gov/how-it-works/eligibility

   

  Does your plan allow for different Levels of Control for who manages spending and investments from the ABLE account? Yes, Beneficiaries or Authorized Legal Representatives can appoint one or more Authorized Users to an Account. Authorized Users can be assigned a variety of permission levels on an Account, from view-only access up to transactional access. Authorized Users may only access an Account from within the Plan’s online account portal. Regardless of the permission level assigned, Authorized User capabilities are limited. Authorized Users cannot add or remove bank accounts, cannot close, transfer, or initiate an outgoing Rollover, and cannot edit Account information, among other limitations.

   

CalABLE (click to open an account) Phone: 1.833.225.2253