What is ABLE to Work?

The ABLE to Work Act, effective January 1, 2018, revised the Internal Revenue Code applicable to ABLE accounts to permit eligible employed beneficiaries to save more in their ABLE accounts. 

Over and above the standard Annual Contribution Limit ($16,000 for 2022), a working beneficiary is allowed to contribute an additional amount up to the lessor of the beneficiary’s compensation for the current year or the ABLE to Work Contribution Limit ($12,880 for 2022).

You can make an ABLE to Work contribution online or by using the Contribution Form.

If the beneficiary or their employer is contributing to a defined contribution plan (401(k)), annuity plan (403(b)), or deferred compensation plan (457(b)), the beneficiary is not eligible to make ABLE to Work contributions.