Each Investment Option in NY ABLE (other than the Checking Option) is assessed a .40% asset-based fee over the course of the year.
Each NY ABLE Account is charged a quarterly fee for maintenance and administration. If an Account Owner elects electronic delivery notification for statements and confirmations, the quarterly fee is $11.25. If the Account Owner elects paper delivery for statements and confirmations, the quarterly fee is $13.75. Signing up for electronic delivery is easy – either sign up during the enrollment process or by visiting mynyable.org and logging into your Account.
Checking Option Fees:
Accounts invested in the Checking Option will be charged a $2 monthly service charge. The fee is waived for average daily balances over $250 or Accounts enrolled in electronic statement delivery directly with Fifth Third Bank. To update the statement delivery preference for the Checking Option, please log into www.53.com once you obtain your free debit card.
There are no enrollment or withdrawal fees in NY ABLE. However, there are fees charged for returned or rejected transactions, priority delivery and wire transactions. Fifth Third Bank charges additional fees for certain services for the Checking Option.
Additional information about fees is available in the New York ABLE Savings Plan Disclosure Booklet and Participation Agreement.
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