State Account Limit: $350,000
Annual Contribution Limit: 15000
ABLE To Work Act Contribution: 12140
Withdrawal Hold Rules: Yes.
State Income Tax Deduction: No. There is no state income tax for residents of South Dakota.
HB 1224 was signed into law on 3/11/2016. The bill:
- Excludes contributions to an account in a qualified ABLE savings program, earnings on the contributions or distributions from the account for qualified disability expenses from consideration when determining eligibility for state benefit programs.
- Authorizes the Investment Council to provide information about ABLE savings programs to residents of South Dakota.
Program at a Glance
- Fee Range