Morrisons Cove Herald - Putting cows on the front page since 1885.

Contribution Limit for PA ABLE Accounts Increased to $16,000 Due to Inflation


January 20, 2022

Treasurer Stacy Garrity announced that the annual contribution limit for PA ABLE has increased to $16,000, the first increase since 2018. The change comes as a result of changes in the IRS regulations, responding to inflation. The previous limit was $15,000.

PA ABLE accounts offer tax-advantaged savings options to people with qualifying disabilities, so they can save and build assets without affecting eligibility for means-tested federal and state benefits such as Supplemental Security Income (SSI, savings up to $100,000) and Medical Assistance. Savings can be used for disability-related ex...

For access to this article please sign in or subscribe.


Reader Comments(0)


Our Family of Publications Includes:

Powered by ROAR Online Publication Software from Lions Light Corporation
© Copyright 2021