Program Name: CalABLE (click to open an account)
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: $15,000
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 Account. The additional amount that may be contributed is an amount equal to the Account Owner’s compensation or equal to the poverty line for a one-person household for the prior calendar year, whichever amount is the less: up to $12,760 for residents of the 48 contiguous states; $15,950 for Alaska; or $14,680 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.
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

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 $37 per year withdrawn in 12 monthly installments.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. Fees apply to the prepaid card, for paper statements, withdrawing via check, insufficient funds or additional services.
  • 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      $37 per year withdrawn in 12 monthly installments.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 ACH transfer. Withdrawals made by check incur a $5 per check fee.
  • Are there other characteristics unique to your program?



CalABLE (click to open an account)