SSI Exclusions for Building Assets
- Income and resources other than SSI may be set aside in a Plan to Achieve Self-Support (PASS) account to help buy goods and services needed to reach a vocational goal.
- A PASS account must be approved by SSA. SSA closely monitors PASS accounts to make sure money is deposited and withdrawn as approved.
- Achieving a Better Life Experience (ABLE) accounts allow individuals to save money and receive gifts without impacting their SSI eligibility.
- To establish an ABLE account, the designated beneficiary must have a disability that began before age 26 (this will increase to age 46 in January 2026).
- There are annual contribution limits for how much can be added to an ABLE account. In 2023, the limits are $17,000 from any source and up to $14,580 from the designated beneficiary’s earned income.
- The SSI program ignores to $100,000 saved in an ABLE account. If more than $100,000 is saved and the excess amount takes the beneficiary over the SSI resource limit of $2,000, the person’s SSI payments are suspended indefinitely until the excess amount is below the resource limit.