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CalABLE increases contribution limits in 2022

January 5, 2022 By //  by Ashley Clower

 

CalABLE accounts are now allowing up to $16,000 in contributions, which is an increase from the previous limit of $15,000.  Additionally, employed owners of a CalABLE account can contribute an amount equal to their current year gross income up to an additional $12,880.  The amount of $100,000 total in a CalABLE amount remains the limit with no effect on receiving SSI benefits.  You can read more directly on the CalABLE website here.

Filed Under: Estate Planning and/or Elder Law, Special Needs

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