FAQs
Answers at your fingertips
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- About ABLE
- Account Management
- Additional Tax Benefits and Penalties
- ALR
- Banking and Investments
- Contributions and Withdrawals
- Eligibility
- Getting Started with ABLE
- Gifting
- Prepaid Card
- Recurring Contributions
- Rollover
- Successors and Estates
- Tax Credit
- Are there age restrictions to open an ABLE account?
- To open an ABLE account, you must be an adult with a qualifying disability or blindness that developed before the age of 26. Your current age doesn’t impact your eligibility to open an account. Please note, with the passage of new federal legislation, the age of onset for disability will be raised... Read more
- What role does Oregon State Treasury play in the Oregon ABLE Savings Plan?
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The Oregon ABLE Savings Plan is administered by the Oregon Treasury Savings Network which is a division of the Oregon State Treasury. The Oregon 529 Savings Board provides oversight for Oregon ABLE and is chaired by the Oregon State Treasurer with four appointed members of the public.
- Are investments in my Oregon ABLE account guaranteed not to lose money or are they insured?
- No. As with any investment, there is some risk involved. While Oregon ABLE Savings Plan accounts provide investment options to match a variety of risk tolerances, there is no guarantee that your portfolio will generate earnings. Before opening an account, you should carefully read and understand... Read more
- How do I connect more than one bank account to an Oregon ABLE account?
- Adding an additional bank account is simple. Once you’re logged in to your Oregon ABLE account dashboard, find the “Accounts” section in your profile and click on “Add a new bank account.” Follow the steps to connect a new bank account associated with either the name of the beneficiary or the... Read more
- How do I make contributions to my account?
- It’s easy to contribute to your Oregon ABLE Savings Plan account. You can make online contributions at any time and set up recurring monthly transfers for as little as $5 each time when you connect your bank account. You can also set up payroll direct deposits through your employer. If you prefer... Read more
- How do I manage existing automatic contributions?
- If you need to edit or remove your account’s automatic contributions, simply sign in to your account, click the “Transfers” link at the top of the page, and then select “Manage.” You can delete and re-enter a new desired contribution amount and edit the frequency or day of the month the... Read more
- How often can I make changes to my investment allocations?
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You can only sell off a portfolio to buy a new option twice per calendar year. However, you can start contributing to a new, additional portfolio, as many times as you'd like.
- Are there any restrictions on making a withdrawal?
- Making a withdrawal is easy, however in some cases there are restrictions on how soon you can access the funds in your Oregon ABLE account. Standard contributions made by check, EFT or AIP will be accessible for withdrawal approximately five business days after the deposit. Contributions from third... Read more
- Are contributions made pre-tax or after-tax?
- The money that you contribute to your Oregon ABLE account is made with after-tax dollars, and any of your account earnings can be withdrawn and used to pay for qualified expenses tax-free. Any money added to the account could qualify for a state income tax credit, which means you’ll have even more... Read more
- Are there any rollover fees?
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Yes, there is a $50 rollover fee for transferring funds out of the Oregon ABLE Savings Plan and into a different savings plan.
