Contributions

Contribution Methods

Any person, including your friends, family, corporation, trust or other legal entity may contribute to your IAble account. From writing a check to rollovers from an existing 529 plan, we offer a variety of contribution methods to choose from.

Check
Wire transfer
Payroll direct deposit
Recurring contributions
Rollover from a 529 plan¹

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IAble Account Owners who earn income may contribute additional funds (also known as ABLE to Work) beyond the Annual Contribution Limit of $17,000 – up to $13,590 more.

How it works

The total additional annual contribution amount is equal to:

The U.S. Department of Health and Human Services (HHS) Poverty Guidelines² amount for a one-person household in the Account Owner's state of residence for the previous calendar year, currently $13,590 for Iowa.

The Account Owner’s gross wages, whichever is less.

Working Account Owners are not eligible to contribute additional funds to their IAble account if they are already contributing to an employer-sponsored:

401(k) defined contribution plan
403(b) annuity contract

457(b) deferred compensation plan

Account Owners or Authorized Individuals should keep adequate records to ensure the limit is not exceeded. Any increase in contributions could impact tax obligations. Consult a tax advisor before making any such increase. If you are eligible, fill out the Self Certification form (PDF). For more information, view the ABLE to Work federal guidelines.

¹The amount that may be rolled over from a 529 Plan in any year, when combined with any other contributions made to your Account in the same year, cannot exceed the Annual Contribution Limit. Under current federal law, this feature will only be available until January 1, 2026. Consider consulting with a tax or investment professional to determine the tax applicability to your scenario.

²The Poverty Guidelines amount changes each year. Consult the U.S. Department of Health and Human Services Poverty Guidelines for the correct amount for your state of residence.

For more information about IAble (the "Member Plan"), call (888) 609-8910, or visit https://www.IAble.gov to obtain a Plan Disclosure Booklet, which includes investment objectives, risks, charges, expenses, and other important information; read and consider it carefully before investing.

Before investing in any qualified ABLE program, you should consider whether your home state offers a qualified ABLE program that provides its taxpayers with favorable state tax and other benefits that are only available through investment in the home state's qualified ABLE program. You also should consult your financial, tax, or other adviser to learn more about how state-based benefits (or any limitations) would apply to your specific circumstances. You also may wish to directly contact your home state's qualified ABLE program, or any other qualified ABLE program, to learn more about those plans' features, benefits and limitations. Keep in mind that state-based benefits should be one of many appropriately weighted factors to be considered when making an investment decision.

The Member Plan is sponsored by the state of Iowa and administered by Treasurer of the State. The Member Plan is one of the qualified ABLE plans issued by the Ascensus ABLE Consortium Trust. Ascensus College Savings Recordkeeping Services, LLC, the Program Manager, and its affiliates have overall responsibility for the day-to-day operations, including investment advisory, recordkeeping and administrative services. The Member Plan offers a series of investment options within the Ascensus ABLE Consortium Trust. The Member Plan is intended to operate as a qualified ABLE plan to be used only to save for Qualified Disability Expenses, pursuant to the Section 529A of the U.S. Internal Revenue Code, as amended.

This material is provided for general and educational purposes only, and is not intended to provide legal, tax or investment advice, or for use to avoid penalties that may be imposed under federal or state tax laws. This material is not an offer to sell or a solicitation of an offer to buy any securities. Participation in the Member Plan does not guarantee that contributions and the investment return on contributions, if any, will be adequate to cover future expenses or that an account owner is eligible to participate in the Member Plan.

Contributions

Contribution Methods

ABLE to Work

Email Updates

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