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
- How do I choose an investment option?
- When setting up your Oregon ABLE Savings Plan account, you can save money in a cash option, investment option, or both. The choice is up to you. If you decide to invest all or some of the money, there are three investment options to choose from: ABLE Conservative, ABLE Moderate, and ABLE... Read more
- How is an ABLE account different from a Special Needs Trust or a Pooled Trust?
- ABLE accounts, Special Needs Trusts (SNTs), and Pooled Trusts are all financial tools that can help people with disabilities to save money. The best option depends on your situation and goals. An ABLE account won’t replace a Special Needs Trust or a Pooled Trust. Read on for an outline of some key... Read more
- How do I change my investment options?
- When you create an Oregon ABLE Savings Plan account, you'll have a chance to choose which portfolio you want to contribute to. Review your investment options here to see what's available. There are two ways to change your account's investment choices: You can sell your portfolio and invest the... Read more
- Can I change how my money is allocated?
- You can change the allocation of future contributions up to twice per year. Since you can only make investment changes on your account twice a calendar year, including allocation changes and investment option changes, if you change your allocation of future contributions, that counts towards your... Read more
- How do I make withdrawals from my account? How long do they take?
- It’s easy to make withdrawals from your Oregon ABLE Savings Plan account online. You can withdraw as little as $5 each time and transfer that money into any bank account linked to your Oregon ABLE account. If you have more than one investment, you can decide which investment you’d like to pull... Read more
- Does the Authorized Legal Representative (ALR) own the account with the beneficiary?
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No. Regardless of who opens the account, the Oregon ABLE account beneficiary is the sole owner of the funds.
- What are the fees associated with an account?
- The Oregon ABLE Savings Plan aims to keep investment fees relatively low and waive any additional recurring fees when you manage your account online—the easiest and simplest way to manage your account. There is a low annual fee of $35 to keep everything running smoothly. There is also an annual... Read more
- How do I close my account?
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Please give us a call and we’ll help you to formally close your Oregon ABLE account. You can reach us at 1-844-999-2253, 9am-5pm PT. We’ll be sad to see you go.
- Do I have to live in Oregon to open an Oregon ABLE account?
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Yes, you must be an Oregon resident to open an Oregon ABLE Savings Plan account. If you aren’t an Oregon resident, you might consider opening an account with ABLE for ALL, a national savings plan run by the state of Oregon that has many of the same features.
- Where can I find my Oregon ABLE account number?
- To find your account number, log in to your Oregon ABLE account, click on the beneficiary (if you have more than one), go to “Settings” on the upper right side of the page, select “Account Information,” then click show next to “Account Number.” Other information specific to the beneficiary and... Read more
