Any person can contribute to your account – family, friends, a trust or estate, partnership, association, company or a corporation. No matter who contributes, you (or your legal representative) control the account and the assets in the account belong to you.

  • Contributions must be in US dollars and cash is not accepted.

  • Any person can contribute by check, electronic funds transfer from a bank account, or directly from a paycheck.

  • Pre-scheduling contributions is a great way to set up a deposit and not worry about having to remember to make your future contribution. Set it and forget it! Anyone can preschedule contributions, not just the account owner.
    • The Automatic Investment Plan (AIP) is an automatic way to withdraw from a personal bank account for deposit into your Enable account. You can set this up to occur any day or any month.1
    • You can also have a portion of a paycheck sent directly to your account through payroll direct deposit.

Low contribution minimums

To open an account, you need to contribute a minimum of $50. If you set up AIP or payroll deduction at the time of enrollment, the minimum contribution is $25. The minimum contribution amount after you have enrolled (called a “subsequent contribution”) is $25 and the $25 is waived if you have AIP or contribute through payroll deduction. Your account must have a minimum balance of $50 at all times.

Gifting

Engage your circle of friends and family members to help you become more financially secure by letting them know about Enable’s gifting and rewards programs. Families and friends can give the gift of a contribution to your account by using the Enable gift certificate option.

Systematic exchanges of money among investment options

You can choose to make a lump sum deposit into one investment option and systematically exchange a set dollar amount into another investment option over time. Details are available in the Program Disclosure Statement.

Contribution limits

The ABLE Act places limits on the amount that can be contributed annually and the total account balance.

  • Total contributions made into your account, regardless of who made the contribution, cannot exceed $14,000 per calendar year.

  • A contribution will be rejected when a contribution plus the total account balance exceeds $400,000. The total account balance, however, can continue to grow beyond $400,000.

1Only the account owner or a responsible individual authorized on the account will be able to add, delete or change an AIP.