February 20, 2019

What is ABLE to Work?

The ABLE to Work Act allows Beneficiaries who are employed to contribute an amount equal to their current year gross income up to $12,490 each year to their ABLE Account in addition to the annual standard contribution limit.

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

Keep in mind that, if the Beneficiary or their employer is contributing to a defined contribution plan (such as a 401(k)), annuity plan (403(b)), or deferred compensation plan (457(b)) this calendar year, the Beneficiary is not eligible to make ABLE to Work contributions.

Here is a link to the rules and guidelines you should know about.