Florida ABLE Account Information

  • Status: Open for Enrollment
  • Program Name: ABLE United
  • Program Manager: Florida Prepaid College Board
  • Program Investment Institutions: Vanguard Group, Inc, Florida PRIME, and BlackRock, Inc.
  • Program Website: http://www.myablesavings.com/
  • Annual Contribution Limit: $15,000.00

FAQ

Does this program offer enrollment to out of state residents?

No

Is there a state income tax deduction or credit for contributions made into accounts opened in this state by state residents?

No. There is no state income tax in Florida.

Who is the program administrator?

Florida ABLE, Inc.

Is there an initial minimum contribution requirement to open an ABLE account? 

No

Is there an annual set fee to maintain the account? 

No

Is there a required minimum contribution to your account? If so, what is the amount?

No

Are there fees or restrictions to the number of disbursement you are allowed?

No

Can I roll over my ABLE account to another ABLE program? If so, what is the fee to do so?

Yes. There are currently no fees associated with rolling over your ABLE account from one ABLE program to another ABLE program.

Is there a “debit card/purchasing card” available with the program? If so, what is the added cost?

No

How many investment options are associated with the program? Do those investment options vary in risk?

There are seven options. These investment options range from conservative to aggressive with varying levels of risk, based on the underlying risk of their component investments.

Is there a fee associated with the investment choices? If so, how much?

Yes. Depending on the investment choices, the total fees range from 0.035% to 0.29%.