Program Name: CalABLE (click to open an account) Phone: 1.833.225.2253
Status: Open for Enrollment
State Program Manager: TIAA-CREF Tuition Financing, Inc.
State Account Limit: $529,000
Accepts Out Of State Residents: Yes
Annual Contribution Limit: $16,000
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 $12,880 for residents of California and the continental U.S.; $16,090 for residents of Alaska and $14,820 for residents of Hawaii.
Program Banking Institution: TIAA-CREF
Number Investment Options: 4
Program Investment Institution(s): TIAA-CREF
Debit Card Or Prepaid Card: Yes
Withdrawal Hold Rules: Yes.   Contributions made by check or ACH will not be available for 10 Business Days.
Medicaid Estate Recovery Status: California law prevents Medi-Cal from seeking reimbursement from the CalABLE accounts of California residents, unless otherwise required by federal law.
State Income Tax Deduction: No.
FDIC Insured: Yes. Investments in the FDIC-Insured Portfolio 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

Account Disclosure Document(s):

Please See Plan Disclosure Document

Additional Information:

Does your plan allow for proper account titling for a representative payee?

• (Beneficiary’s name) by (your name), representative payee.
• (Your name), representative payee for (beneficiary’s name).

What is your plan’s policy regarding payment of funeral / burial expenses as a qualified disability expense (QDE) prior to account freeze:  When CalABLE is notified of a Beneficiary’s death, CalABLE will request satisfactory proof of death and documentation from the executor or administrator of the Beneficiary’s estate. Upon receipt of such proof of death, CalABLE will suspend all Account activity, except that the executor or administrator of the Beneficiary’s estate will be permitted to take withdrawals from the Account. Please note that the balance of an Account after a Beneficiary’s death may be subject to claims by states under their Medicaid recapture guidelines. An executor or administrator of a Beneficiary’s estate should consult with qualified tax and legal advisors regarding the tax treatment of such withdrawals and the potential for Medicaid/Medi-Cal recapture by Medicaid/Medi-Cal or other states.

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. $25.
  • Is there an annual set fee to maintain the account? If so, how much?
    Yes. $37 per year withdrawn in 12 monthly installments.
  • Are there fees or restrictions to the number of disbursement you are allowed? If so, what are they?
    Yes. There are no restrictions on the number of withdrawals that can be taken. There is a $5 fee for withdrawals by check. Withdrawals by electronic transfer are free.
  • 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:
      $37 per year withdrawn in 12 monthly installments.
    • Check Fee:
      $5 per check fee
    • Debit Card Fee:
      $1.25 per month (additional fees may apply)
    • Investment Option Fee Range:

      Please see Plan Disclosure Document

    • Statement Fee:
      $10 per year for paper statements sent through U.S. Mail; fee waived for email delivery.
    • ABLE Account Transfer Fee:
    • Withdrawal Transaction Fee:
      There is no charge for withdrawals made by electronic transfer. Withdrawals made by check incur a $5 per check fee.
  • Are there other characteristics unique to your program?

    Description of plan’s Recertification of ABLE Eligibility Policy: If an account owner is no longer eligible for their CalABLE Account, they simply have to notify the Program of this change.


CalABLE (click to open an account) Phone: 1.833.225.2253