Missouri

Program Name: MO ABLE
Status: Open for Enrollment
State Program Manager: Intuition ABLE Solutions, LLC
State Account Limit: $468,000
Accepts Out Of State Residents: No
Annual Contribution Limit: $15,000
ABLE To Work Act Contribution: $12,140
Number Investment Options: 4
Program Investment Institution(s): Vanguard Group, Inc. and Fifth Third Bank; “Except to the extent of 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 Payback Waived: No.
State Income Tax Deduction: Yes. Missouri offers an annual state income tax deduction of up to $8,000 for single filers and $15,000 for joint filers
FDIC Insured: Yes
ABLE Legislation:

Missouri Revised Statutes §§ 209.605-209.645 establishes the rules for MO ABLE

Account Disclosure Document(s):


Additional Information:

Missouri Revised Statutes §§ 209.605-209.645 establishes the rules for MO ABLE.

Program at a Glance

  • Is there an initial minimum contribution requirement to open an ABLE account? If so, how much?
    Yes. $50.
  • Is there an annual set fee to maintain the account? If so, how much?
    Yes. The current account maintenance fee is $42 per year payable at $3.50 per month.
  • Are there fees or restrictions to the number of disbursement you are allowed? If so, what are they?
    No.
  • Is there a “debit card/purchasing card” available with the program? If so, what is the added cost?
    Yes.
  • Can I roll over my ABLE account to another ABLE program? If so, what is the fee to do so?
    Yes.
  • Fee Range
    • Annual Maintenance Fee:
      The current account maintenance fee is $42 per year payable at $3.50 per month.
    • Investment Option Fee Range:
      $1.90 to $3.30 on $1,000 investment per year.
    • Statement Fee:
      $10 annually (print/mail); $0 electronic statement
    • Withdrawal Transaction Fee:
      No ATM use
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