“Changes Expected for Account Owners
The transition to Vestwell is expected to conclude in July and will introduce several changes for PA ABLE account holders.
According to the Treasury Department, improvements will include lower program fees, an updated account portal, and expanded savings tools.
Other changes planned include:
- Lower fees that officials say could reduce costs by up to 45 percent.
- A new customizable PA ABLE Visa prepaid card.
- Additional investment options for account holders.
- Simplified account management tools designed for individuals and organizations.
- A mobile application to manage accounts.
- An account platform available in 20 languages.
Vestwell provides technology and management services for several types of savings programs, including ABLE accounts, 529 college savings plans, individual retirement accounts, and employer-sponsored retirement plans.”