What is ABLE to Work?
The ABLE to Work Act allows beneficiaries who are employed to contribute an amount equal to the Beneficiary’s compensation for the taxable year (up to a maximum of $13,590 in 2023) each year to their ABLE accounts in addition to the annual standard contribution limit of $17,000.
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 retirement plan, including a defined contribution plan (e.g. 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.