Tax Policy – Three More States Open Qualified ABLE Programs

South Carolina, Maryland, and New Hampshire opened qualified ABLE programs, bringing the total number of jurisdictions with ABLE programs to 32.

South Carolina’s ABLE program is currently only open to state residents. It has five investment options. The account has a $3.50 monthly fee and asset-based fees ranging from 0.19% to 0.34% for investment options. The minimum initial deposit is $50.

Maryland’s ABLE program is open to all eligible individuals nation-wide. It has three investment options and a cash option. The account has an annual fee of $35 and asset-based fees ranging from 0.30% to 0.38% for investment options. The minimum initial deposit is $25.

New Hampshire’s ABLE program is currently only open to state residents. It has five investment options. The account has a monthly fee of $3.50 and asset-based fees ranging from 0.19% to 0.34% for investment options. The minimum initial deposit is $50.

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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