The Attainable Savings Plan
Status: Open for Enrollment
State Program Manager: Fidelity mefa - https://www.mefa.org/products/attainable/
State Account Limit: $400,000
Accepts Out Of State Residents: Yes
Annual Contribution Limit: $15,000
ABLE To Work Act Contribution: $12,140
Number Investment Options: 8
Program Investment Institution(s): Fidelity Investments; “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 Payback Waived: No.
State Income Tax Deduction: No.
FDIC Insured: No
HB 4047 became Chapter 226 of the Acts of 2014. HD 3753 was introduced to revise the pre-federal legislation and as of 1/21/16 is in the House Ways and Means committee.
Note that a debit card option is ONLY available to Attainable Plan customers who also open a Fidelity Cash Management Account. Attainable plan customers can open a Fidelity Cash Management Account and transfer money easily from their Attainable account to their Fidelity Cash Management Account. The Fidelity Cash Management Account provides a no annual fee debit card with ATM-fee reimbursement, free check writing, free Fidelity Billpay, the option to open as a joint account, and the option to receive text alerts on Debit Card usage.
Program at a Glance
Is there an initial minimum contribution requirement to open an ABLE account? If so, how much?
Is there a required minimum contribution to your account? If so, what is the amount?
Is there an annual set fee to maintain the account? If so, how much?
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. 0 "Open a Fidelity® Cash Management Account and use a debit card, fee-free ATMs, BillPay, and free check writing to manage your disability-related expenses."
Can I roll over my ABLE account to another ABLE program? If so, what is the fee to do so?
- Fee Range
Investment Option Fee Range:
$5.70 to $9.30 on $1,000 for one year