NY ABLE

What NY ABLE does

NY ABLE is a qualified ABLE savings program established under Section 529A of the Internal Revenue Code and sponsored by the State of New York. The program is administered by New York State Comptroller Thomas P. DiNapoli (in office since 2007) and serves individuals with disabilities and their families or authorized caregivers, enabling them to save for disability-related expenses — including health, housing, education, transportation, assistive technology, and daily living costs — without jeopardizing eligibility for means-tested government benefits such as SSI, Medicaid, and SSDI. Up to $100,000 in account value is exempt from the SSI resource limit, and Medicaid eligibility is preserved regardless of account balance. New York residents also receive state-tax advantages; non-residents may enroll but forgo New York state tax benefits.

The offering combines six investment choices: four risk-based portfolios (Aggressive, Moderate, Intermediate, Conservative) invested in underlying Vanguard funds, plus two FDIC-insured bank options — a Savings Option held by Sallie Mae Bank and a Checking Option held by Fifth Third Bank with debit-card and ATM access. Day-to-day operations are outsourced to Ascensus Broker Dealer Services (Program Manager) and Ascensus Investment Advisors (Investment Manager), with The Bank of New York Mellon serving as custodian. Additional features include the Ugift® gifting service for contributions from friends and family, a Systematic Exchange Program for gradual portfolio rebalancing, and an online Eligibility Quiz. Contributions may be made via check, electronic transfer, payroll direct deposit (minimum $15 per pay period), recurring contributions, or rollovers from 529 plans or other state ABLE programs.

Economically, NY ABLE is a public-purpose program rather than a revenue-generating enterprise. Fee revenue accrues to the program manager and partners rather than to the program itself: 0.35% annual asset-based fees on the four portfolios, 0.28% on the Savings Option, $10–$12.50 quarterly account maintenance fees depending on statement delivery mode, and a $2 monthly Checking Option service fee (waived under specified conditions). Go-to-market is direct-to-consumer through mynyable.org, supplemented by phone-based client services (1-855-5NY-ABLE), Zoom-based educational webinars, the ABLE National Resource Center partnership, and mail-in paper enrollment. No enrollment or withdrawal fees are charged. Effective January 1, 2026, federal ABLE eligibility was expanded from disability onset before age 26 to before age 46, materially enlarging the eligible population.

Name

NY ABLE

Legal name

NY ABLE Savings Program

Website

https://mynyable.org

Company type

Private

Operating status

Operating

Short description

NY ABLE is a Section 529A state-sponsored savings program, administered by the New York State Comptroller, that enables individuals with disabilities and their caregivers to save tax-free for disability-related expenses while preserving SSI, Medicaid, and other government benefits.

Ownership category

akta.pro rank

Headquarters

HQ city

Newton

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Marketing or Sales, Others

Revenue model

1. Asset-Based Program Fees: The four asset-allocation portfolios are assessed a 0.35% annual asset-based fee. The Savings Option is assessed a 0.28% annual asset-based fee. These fees cover program management, investment advisory, and administrative services.
2. Account Maintenance Fees: Quarterly maintenance fee of $10 for electronic statement delivery or $12.50 for paper statements, charged to all NY ABLE accounts for maintenance and administration.
3. Checking Option Service Fees: $2 monthly service charge for Checking Option accounts, waived for average daily balances over $250 or accounts enrolled in electronic statement delivery with Fifth Third Bank.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

NY ABLE is a 529A-qualified ABLE savings program that helps individuals with disabilities save for disability-related expenses on a tax-free basis while preserving eligibility for SSI, Medicaid, SSDI, and other means-tested government benefits. The program offers six investment options (four risk-based Vanguard portfolios and FDIC-insured Savings and Checking options), with day-to-day operations managed by Ascensus Broker Dealer Services as Program Manager and assets custodied by The Bank of New York Mellon Corporation.

Product overview

NY ABLE is a qualified ABLE savings program (Section 529A) administered by the New York State Comptroller, enabling individuals with disabilities to save tax-free for disability-related expenses while preserving government benefits. The core platform offers six investment options: four risk-based portfolios (Aggressive, Moderate, Intermediate, and Conservative) investing in Vanguard funds, plus two FDIC-insured options (Checking through Fifth Third Bank and Savings through Sallie Mae Bank). Additional offerings include the Ugift® service for gift contributions, an Eligibility Quiz for prospective account holders, and a Systematic Exchange Program for gradual portfolio rebalancing. Contributions can be made via check, electronic transfer, payroll direct deposit, recurring contributions, or rollover from 529 plans.

Differentiator

Problem solved

Functional benefit

Products and services

• Aggressive Investment Option A risk-based portfolio seeking long-term growth with approximately 56% U.S. equity, 29% international equity, 9.5% U.S. fixed income, and 5.5% international fixed income. Subject to greater market risk and volatility; invests in Vanguard funds.
• Moderate Investment Option A balanced portfolio seeking capital appreciation and income with approximately 40% U.S. equity, 20.5% international equity, 22.5% U.S. fixed income, and 12.5% international fixed income, invested in Vanguard funds.
• Intermediate Investment Option A conservative-growth portfolio with approximately 23% U.S. equity, 12% international equity, 26% U.S. fixed income, 14% international fixed income, and 25% cash equivalents, weighted toward fixed income over equity.
• Conservative Investment Option An income-focused portfolio seeking protection of principal with approximately 10% U.S. equity, 5% international equity, 22.5% U.S. fixed income, 12.5% international fixed income, and 50% cash equivalents.
• Checking Option An FDIC-insured checking account provided through Fifth Third Bank that seeks to preserve principal. Offers a debit card for point-of-sale purchases, ATM withdrawals, and check writing, earning interest expressed as Annual Percentage Yield (APY).
• Savings Option An FDIC-insured savings account provided through Sallie Mae Bank that seeks to preserve principal. Invests in an omnibus savings account with interest compounded daily and credited monthly, expressed as Annual Percentage Yield (APY).
• Ugift® Gift Contribution Service A free-to-use service enabling friends and family to contribute directly to a NY ABLE account using a unique code shared by the account owner via ugiftable.com.
• NY ABLE Savings Program A qualified ABLE program (Section 529A) administered by the New York State Comptroller, enabling individuals with disabilities to save tax-free for disability-related expenses while preserving eligibility for SSI, Medicaid, and other benefits. The platform offers six investment options, multiple contribution methods, and account management tools.

Quantifiable outcome

• Up to $100,000 in NY ABLE accounts remains exempt from SSI resource limits, protecting beneficiaries' Supplemental Security Income benefits.
• +3 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Ascensus Broker Dealer Services, LLCcoreTechnology or IntegrationProgram Manager with overall responsibility for day-to-day operations of NY ABLE, including investment advisory, recordkeeping and administrative services. Ascensus Broker Dealer Services, LLC is responsible for the operational infrastructure of the program.
• Ascensus Investment Advisors, LLCcoreTechnology or IntegrationInvestment Manager for NY ABLE, providing investment advisory services for the program's portfolio options. Affiliated with the Program Manager.
• The Bank of New York Mellon CorporationcoreTechnology or IntegrationCustodian of Account assets for NY ABLE, holding and safeguarding the program's investment assets.
• Sallie Mae BankcoreTechnology or IntegrationBanking partner holding the Savings Option account, an omnibus savings account insured by the FDIC. Interest rates are reviewed periodically by Sallie Mae Bank.
• Fifth Third BankcoreTechnology or IntegrationBanking partner for the Checking Option, providing FDIC-insured checking account with debit card access. Manages checking option interest rates and statement delivery.
• Thomas P. DiNapoli, New York State ComptrollercoreStrategic or Co-development PartnerNY ABLE is administered by New York State Comptroller Thomas P. DiNapoli. Mr. DiNapoli also manages the State's $16.7 billion payroll and the $194.3 billion New York State Common Retirement Fund.
• ABLE National Resource CenterminorGTM or Marketing PartnerProvides educational resources and information about ABLE programs nationwide. Listed as a helpful resource link on NY ABLE's resources page.
• VanguardcoreTechnology or IntegrationUnderlying fund provider for the four risk-based investment portfolios. The Aggressive, Moderate, Intermediate, and Conservative options invest in Vanguard funds with varying allocations of U.S. and international equity and fixed income securities.

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• MassABLE (Massachusetts): Massachusetts' state-sponsored 529A ABLE program offering nearly identical product structure to NY ABLE - four risk-based portfolios, FDIC-insured savings/checking, debit card, and Ugift gifting. Operates in neighboring geography and competes for Northeast residents; product and fee structures are highly comparable.
• ABLE United (Florida): Florida's 529A ABLE savings program, a peer in structure and scale. Comparable product offering (four risk portfolios plus FDIC savings/checking), competing for out-of-state enrollments, and run on similar infrastructure with comparable fee economics.
• STABLE Account (Ohio ABLE): Ohio-administered 529A ABLE program that uniquely accepts nationwide enrollments. Closest direct peer to NY ABLE: same federal program framework (Section 529A), same asset-based fee model, same population served. STABLE is NY ABLE's primary out-of-state competitor for non-NY residents.
• CalABLE (California): California's 529A ABLE savings program, one of the largest state programs by enrollment. Directly comparable in structure (state-sponsored, Ascensus-managed platform, Vanguard investment options, FDIC-insured banking options) and competes with NY ABLE for cross-state enrollment share.

Others

• ABLE National Resource Center: National hub coordinating outreach and education for all state ABLE programs. Comparable as ecosystem-level peer that channels awareness and referrals to NY ABLE; not a direct competitor but a shared-mission organization serving the same eligible population.
• Ascensus (Program Manager): Core operational vendor running day-to-day program management, investment advisory, and recordkeeping for NY ABLE and many peer state ABLE programs. Comparable as the infrastructure backbone that powers virtually all state 529/ABLE programs; relevant for understanding competitive dynamics across the ABLE ecosystem.
• Vanguard (Investment Provider): Underlying fund provider for NY ABLE's four risk-based portfolios and the de facto investment backbone of the program. Comparable as the asset-allocation engine that determines participant outcomes; relevant for benchmarking fee economics and investment menu design.

Emerging players

• Special Needs Trust Providers: Pooled and third-party special needs trusts (e.g., Commonwealth Community Trust, Fidelity Pooled Trust) serve the same disability population with similar benefit-protection objectives. They are a partial substitute for ABLE accounts (lower contribution limits, more complex setup, but no annual contribution cap). Comparable as alternative vehicles for protecting government benefits while saving.

Broad incumbents

• Fidelity Pooled Income Fund / Disability Trusts: Large incumbent financial services firms offering pooled special needs trusts and disability-focused investment products. Comparable as scaled institutional providers in the special-needs/disability savings market, but operate under a different trust-based structure rather than the 529A statutory framework.

Regional players

• NY 529 College Savings Program: New York's existing 529 college savings program - a state-sponsored tax-advantaged savings vehicle serving the same New York population with the same Ascensus-managed infrastructure. Comparable as the parent category of 529A (ABLE) savings programs; NY ABLE account holders can roll over from NY 529, making them natural product-line peers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NY ABLE