Alabama ABLE Account Information


  • Status: Open for Enrollment
  • Program Name: Enable Savings Plan Alabama
  • Program Manager: Nebraska State Treasurer
  • Program Investment Institution: First National Bank of Omaha
  • Program Website:
  • Annual Contribution Limit: $15,000.00


Alabama ABLE Account FAQs

Does this program offer enrollment to out of state residents?


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


Is there an initial minimum contribution requirement to open an ABLE account? Is there an annual set fee to maintain the account? 

Yes; $50 per account unless the account owner signs up for AIP or payroll deduction of at least $25 per month. The current account maintenance fee is $45 annually, which is charged $11.25 quarterly per account, not per investment option.

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

$25, but is waived if the account has AIP or payroll deduction.

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


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

Yes, however, based on when the account is terminated, the account owner may be assessed a portion of the annual maintenance fee.

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

Yes, there is a debit card at no additional cost to be used for assets in the Checking Investment Option.

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

There are five options. The investment options range from no risk (Bank Savings Option or Checking Investment Option, which are both interest bearing and are FDIC insured) to conservative to aggressive with varying levels of risk, based on the risks of their underlying component investments.

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

There are no fees to enroll, withdraw, change Investment Options, or to transaction online. For the Checking Investment Option, there is no charge to receive a debit card, there are no asset-based fees, but there may be services fees.

Are there other characteristics unique to the program?

The State of Alabama, through the ABLE Program Board, contracted with the Nebraska State Treasurer to create Enable Savings Plan Alabama as part of the Trust.