Tennessee ABLE Account Information
- Status: Open for Enrollment
- Program Name: ABLE TN
- Program Manager: State of Tennessee Department of Treasury
- Program Investment Institutions: Dimensional Fund Advisors, LP, The Vanguard Group, Inc., Chartwell Investment Partners, Inc, William Blair & Co., LLC, Wellington Management Company, llp, and PRIMECA P Management Company
- Program Website: http://www.abletn.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?
The State of Tennessee does not have an income tax.
Who is the program administrator?
State of Tennessee Department of Treasury
Is there an initial minimum contribution requirement to open an ABLE account?
Yes. The initial minimum contribution requirement to open an ABLE account is $25.00.
Is there an annual set fee to maintain the account?
Is there a required minimum contribution to your account? If so, what is the amount?
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. 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?
Who is the investment manager?
The Tennessee Treasury Department with offerings from Vanguard, PRIMECAP, Dimensional Fund Advisors and First Tennessee Bank
How many investment options are associated with the program? Do those investment options vary in risk?
There are 14 investment options available. These investment options range from little risk FDIC insured to conservative to aggressive with varying levels of risk, based on the risk of the underlying component investments.
Is there a fee associated with the investment choices? If so, how much?
Depending on the investment choices, the total fees range from 0.00% to 0.62%
Are there other characteristics unique to the program?
ABLE TN offers the greatest variety of investment choices among the currently available state programs. The program is administered by the Tennessee Treasury Department which is responsible for managing the investment of roughly $50 billion in assets. Investment performance is monitored by Treasury Investments staff and a third party investment advisory firm.