Program Name: ABLE United
Program Manager: Florida Prepaid College Board
Program Investment Institution: Vanguard Group, Inc, Florida PRIME, and BlackRock, Inc.
Program Website: ABLE United
Total Annual Contribution Limit: $14,000
Account Limit: $418,000
ABLE United is the State of Florida’s qualified able program. The Program is administered by Florida ABLE, Inc. a direct-support organization of the Florida Prepaid College Board (Board).The Board, established in 1987, oversees approximately $10 billion in collective investments in the Stanley G.Tate Florida Prepaid College Program and the Florida 529 Savings Program. The mission of ABLE United is to encourage and assist the saving of private funds to help persons with disabilities cover costs that support their health, independence and quality of life.
Program at a Glance
- What is the total annual contribution limit? $14,000
- 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? If so, how much? No.
- Who is the program administrator? Florida ABLE, Inc.
- Is there an initial minimum contribution requirement to open an ABLE account? If so, how much? No.
- Is there an annual set fee to maintain the account? If so, how much? 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? If so, what are they? 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.
- Who is the investment manager? BlackRock, Inc, Florida PRIME, the Vanguard Group, Inc
- How many investment options are associated with the program? There are seven investment options available.
- Do those investment options vary in risk? Yes. 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%.
- Are there other characteristics unique to your program? N/A