Contributions

Choose how (and how much) you’d like to contribute.

Anyone can contribute to a NY ABLE account and there are various ways to do it:

There are various ways to contribute to a NY ABLE account, such as: online via a computer, check (make payable to NY ABLE and mail to: NY ABLE, PO Box 55087, Boston, MA 02205), payroll direct deposit, recurring contribution, electronic funds transfer, rollover from another state’s ABLE program. There are even three more ways to contribute to a NY ABLE account: Earned income from the qualified individual. Contribution limits apply, Rollover from 529 college savings. 529 beneficiary must match NY ABLE account, or be a family member, Ugift® contribution from friends and family

Open an account with just $25.

Or only $15 when investing through a payroll deduction plan.

Receive a federal tax credit of up to $2,000.

ABLE account owners who contribute to their accounts may be eligible to receive a federal tax credit, called Saver's Credit, for up to $2,000 to help save for retirement.²

¹Family member is defined in the Internal Revenue Code §529(e)(2) and includes the original 529 plan beneficiary's children, siblings, parents, cousins, nieces, nephews, aunts, uncles, grandparents, and spouse. Transfer must be made within 60 days of withdrawal, is subject to annual ABLE account contribution limit, and must be made prior to Jan. 1, 2026.

²The availability and amount of the credit are contingent on certain income and other requirements.