ABLE Act Savings Plan
The all-online ABLE accounts will be available to people who:
- prior to age 26, have a disability that meets Social Security's definition of disability
- have additional assets over the $2,000 Colorado Medicaid allows recipients to keep, but under $15,000/year (in 2021) to save
- need a trusted, limited Agent under Power of Attorney to assist with making qualified distributions from an ABLE account.
Scroll down to see the features of our ABLE Savings Account Limited Power of Attorney Service.
CFPD as Agent under Limited Power of Attorney - $250/year
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Advice on Qualified Distributions
Get up to an hour a month of time with a Case Manager to discuss appropriate expenditures from the ABLE Account, how to make withdrawals/deposits, plan for savings goals and budget ABLE Account funds.
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Referrals to Professionals
CFPD will provide referrals to experts providing resources and services for people with disabilities across Colorado.
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Develop a Budget
Work with a CFPD Case Manager to develop an ongoing budget for use of ABLE funds along with other income the beneficiary might have.
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Select Appropriate Investment Option
A CFPD Case Manager will help you choose the right CollegeInvest Investment Plan to meet your current and longer-term goals.
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Administration and Distribution Review
CFPD will administer the account, tracking and reviewing all distributions for compliance with ABLE rules.
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Deposit Monitoring
CFPD will monitor deposits from all sources to assure that total contributions stay within deposit limits each year.
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Account Termination/Transfer
Should a beneficiary die with funds remaining in their ABLE account, CFPD will perform required distributions for estate recovery, or will help rollover the ABLE account to a qualified sibling.
