The Stephen Beck, Jr. Achieving a Better Life Experience (ABLE) Act of 2014 allows those with disabilities to save for qualified disability expenses without the risk of losing their benefits from assistance programs like SSI and Medicaid.

NY ABLE is an ABLE program designed specifically for New York residents. NY ABLE accounts give earnings the ability to grow tax-deferred, and allow savings to be withdrawn tax-free for qualified expenses. Qualified expenses are any expenses related to an eligible individual's disability.

Anyone can contribute to a NY ABLE account, and there are many ways to contribute.  An account can be opened for as little as $25 – or just $15 when investing through a payroll deduction plan.

NY ABLE contributions must be made directly to the Program and not through an ATM or a bank branch. The maximum allowable contribution to a NY ABLE Account is $15,000 per year.  ABLE account owners who earn income may contribute more to their accounts than the program's annual $15,000 limit. The additional annual contribution is equal to the federal poverty line for a one-person household ($12,490 for the 2020 tax year) or the account owner's income, whichever is less. Working account owners are not eligible to contribute the additional funds if they are already contributing to a retirement plan such as:

  • a defined contribution plan
  • an annuity contract
  • an eligible deferred compensation plan

Please check with a tax advisor regarding your ability to contribute additional earned income, if you participate in any of the above retirement plans.

If you have earned income and are eligible, fill out the Earned Income Self Certification form.

Have questions?

Call us at 1.855.5NY.ABLE (1.855.569.2253) Monday – Friday from 8 a.m. – 8 p.m. ET

New York State Relay System: 711 or 800-662-1220


No Guarantee: None of the State of New York, its agencies, Ascensus Investment Advisors, LLC, Ascensus Broker Dealer Services, Inc., nor any of their applicable affiliates insures accounts or guarantees the principal deposited therein or any investment returns on any account or investment option. Except to the extent of Federal Deposit Insurance Corporation (FDIC) insurance provided for the Checking Option, NY ABLE accounts will be subject to investment risks, including loss of the principal amount invested.  

Investments are not FDIC-insured (Except for the Checking Option).  No Bank, State or Federal Guarantee. May Lose Value.