California ABLE Account Information
- Status: Signed into law – program in development
- Program Name: CalABLE
- Program Manager: TIAA-CREF Tuition Financing, Inc.
- Program Investment Institution: TIAA-CREF
- Program Website: https://calable.ca.gov/
- Annual Contribution Limit: $15,000.00
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?
Yes. The initial minimum contribution requirement is $25.
Is there a required minimum contribution to your account? If so, what is the amount?
Yes. The required minimum contribution is $25.
Can I roll over my ABLE account to another ABLE program? If so, what is the fee to do so?
Yes. There is no fee.
How many investment options are associated with the program? Do those investment options vary in risk?
There are four options that vary in risk.
Is there a fee associated with the investment choices? If so, how much?
Yes. Depending on the investment option selected, the total asset-based fees range from 0% to 0.54%.
Are there other characteristics unique to the program?
California’s program was designed in close collaboration with the disability community. California residents participating in CalABLE enjoy strong consumer protections, including account protection from creditors and from Medi-Cal recovery.