Checking Option


The Checking Option seeks to provide preservation of principal.


The Checking Option invests all of its assets in a checking account held at Fifth Third Bank.

Account Owners who invest in the Checking Option may write checks or use a debit card to pay for Qualified Disability Expenses.  Account Owners should retain documentation (for example, receipts) of all distributions for Qualified Disability Expenses for their records.

Investments in the Checking Option will earn varying rates of interest. Contributions will not earn interest until the hold period expires and the funds are deposited to the account at Fifth Third Bank.  The interest rate generally will be equivalent to short-term deposit rates. Interest will be compounded daily based on the actual number of days in a year and will be credited to the Checking Option on a monthly basis. The interest on the Checking Option is expressed as an Annual Percentage Yield, or APY. The APY on the Checking Option will be reviewed by Fifth Third Bank on a periodic basis and may be recalculated as needed at any time.  To see the current Checking Option Annual Percentage Yield, please go to or call toll-free 888-516-2375.


The Checking Option is primarily subject to the risk that the return on the underlying checking account will vary because of changing interest rates and that the return on the checking account may decline because of falling interest rates. See, Appendix A – Fifth Third Terms and Conditions in the NY ABLE Savings Program Disclosure Booklet and Participation Agreement for additional terms and conditions applicable to the Checking Option.

FDIC Insurance:

Subject to the application of Fifth Third Bank (for the Checking Option) and FDIC rules and regulations to each Account Owner, funds in the Checking Option will retain their value as a result of FDIC insurance.  Please visit for more information about FDIC insurance coverage.

No Other Guarantees:

FDIC insurance is the sole insurance available for the Checking Option. The Checking Option does not provide a guarantee of any level of performance or return or offer any additional guarantees. Neither the contributions into the Checking Option, nor any investment return earned on the contributions is guaranteed by the Plan Administrators, or any other federal or state entity or person.

Have questions?

Call us at 1.855.5NY.ABLE (1.855.569.2253) Monday – Friday from 8 a.m. – 8 p.m. ET

New York State Relay System: 711 or 800-662-1220


No Guarantee: None of the State of New York, its agencies, Ascensus Investment Advisors, LLC, Ascensus Broker Dealer Services, Inc., nor any of their applicable affiliates insures accounts or guarantees the principal deposited therein or any investment returns on any account or investment option. Except to the extent of Federal Deposit Insurance Corporation (FDIC) insurance provided for the Checking Option, NY ABLE accounts will be subject to investment risks, including loss of the principal amount invested.  

Investments are not FDIC-insured (Except for the Checking Option).  No Bank, State or Federal Guarantee. May Lose Value.