Tax – Alabama Opens ABLE Program

On February 27, Alabama became the 18th state to launch a qualified ABLE Program. This program is open to eligible individuals nationwide. The plan has three investment options, a bank savings option, and a checking option. There is a quarterly fee of $11.25 and annual asset-based fees that range from 0.50% to 0.56% for investment options. Additionally, there is a minimum initial deposit of $50. More information about state implementation the ABLE Act can be found here.

General information about ABLE programs can be found in the National Policy Matters: ABLE Accounts for People with Disabilities here.

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