What does the ABLE Act do?

The Federal ABLE Act gives states the opportunity to develop tax-advantaged savings programs for eligible people with disabilities. These saving programs provide the opportunity for people with disabilities to maintain eligibility for federal and state benefits while saving money to cover qualified disability expenses. For Supplemental Security Income (SSI) purposes, the first $100,000 saved in an ABLE account is disregarded for the purposes of the $2,000 asset limit.

The Alabama ABLE Act was enacted on June 9, 2015, enabling Alabama to offer an ABLE program. The Alabama ABLE Savings Plan is offered by the State of Alabama, through the Alabama Savings Board, and is administered by the Office of the State Treasurer.

Contributions to ABLE programs are capped by the Federal ABLE Act to the federal gift tax exclusion, currently $18,000 per year.

Contributions are accepted by the Alabama ABLE plan up to a maximum account value of $475,000, as of December 1, 2018.

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Sign up and start saving

Once you are ready to open an account, you can do so here online. When opening an Alabama ABLE account, be sure to have information about the beneficiary, qualifying disability, and how the ABLE account will be funded. Learn more about who can open an account and all the benefits of having one — or if you’re ready to get started, open one today!

Create account

Have specific questions?

Here are a few ways to get answers: Give us a call Monday through Friday, at 1-833-711-2253 from 8am-7pm CT, use our Live Chat feature in the bottom right of your screen (when available), or browse Frequently Asked Questions.

Individuals with speech or hearing disabilities may dial 711 to access Telecommunications Relay Service (TRS) from a telephone or TTY.

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