Tax Policy – Massachusetts and Missouri Launch ABLE Programs

Massachusetts and Missouri have launched qualified ABLE programs, bringing the total number of states with ABLE programs to 21. Massachusetts’s program (The Attainable Savings Plan) is open to all eligible individuals nationwide, has eight different investment options, has a minimum initial deposit requirement of $50, and charges an annual fee of $30 as well as asset-based fees ranging from 0.57% to 0.94%.

Missouri’s program (MO ABLE) is currently only open to state residents, has five different investment options, a minimum initial contribution requirement of $50, a monthly fee of $3.50, and asset-based fees ranging from 0.19% to 0.34%. More information about state implementation of 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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