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: 12490
Number Investment Options: 4
Program Investment Institution(s): TIAA-CREF: “Except to the extent of the Federal Deposit Insurance Corporation (FDIC) insurance provided for the debit/checking option, ABLE accounts will be subject to investment risks, including loss of the principal amount invested.”
Debit Card Or Prepaid Card: Yes
Withdrawal Hold Rules: Yes
Medicaid Estate Recovery Status: Medicaid payback is subject to Federal and State probate laws.
State Income Tax Deduction: No.
FDIC Insured: Yes.
ABLE Legislation:

SB 324:

AB 449:

AB 1553:

SB 218:

AB 384:

AB 688:

Account Disclosure Document(s):

Account Disclosure Document

Additional Information:

Contributions made by check or ACH will not be available for withdrawal for 10 business days. There will be a hold of 30 days on withdrawal requests when there is a change to the address in the account record or a change of legal authorized representative.

For ACH withdrawals, you will typically receive the funds within three to five business days after CalABLE processes the request. For a check withdrawal request, you will typically receive the check within seven to ten business days after CalABLE processes the request. However, those time frames are not
guaranteed, and various circumstances may cause your receipt of the funds or the check to be delayed.

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
  • Are there fees or restrictions to the number of disbursement you are allowed? If so, what are they?
    No. Fees apply to the prepaid card, for paper statements, withdrawing checks, bounced checks or additional services.
  • Is there a “debit card/purchasing card” available with the program? If so, what is the added cost?
    Yes. The fee for the card is $1.25 per month; additional fees may apply.
  • 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:
    • Check Fee:
    • Debit Card Fee:
    • Investment Option Fee Range:
      Please see Plan Disclosure Documents See state's ABLE Plan Disclosure Documents and Investment Performance Report for detailed information.

      Account Disclosure Document

    • Statement Fee:
    • ABLE Account Transfer Fee:
    • Withdrawal Transaction Fee:
      $0 for ACH
  • Are there other characteristics unique to your program?

    CalABLE will have an ambassador program in the near future. CalABLE launched a financial literacy program with National Disability Institute. CalABLE funds have been exempted from monetary judgements via state law.

CalABLE (click to open an account)
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