FAQs
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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
- Do my ABLE savings affect eligibility for federal financial aid?
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No. Money saved in an ABLE account does not count as an asset on your Free Application for Federal Student Aid (FAFSA). Plus, saving in an ABLE account may be an effective strategy to help you pay for future education expenses.
- Are contributions to an Oregon ABLE account considered to be an asset?
- The money in an Oregon ABLE account is not considered to be an asset for state and federal benefit purposes. This includes SSI, Medicaid, HUD housing assistance, SNAP, FAFSA applications, and more. For Supplemental Security Income (SSI) benefits only, you can have up to $100,000 in the Oregon ABLE... Read more
- Who owns the Oregon ABLE account?
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The money in an Oregon ABLE account always belongs to the beneficiary, regardless of who opened the account. ABLE accounts can be opened and managed by an Authorized Legal Representative (ALR), such as a parent or guardian, however, the money still belongs to the beneficiary.
- Could saving for retirement impact my benefits?
- The short answer is, yes. Oregon workers may choose to invest in both an ABLE savings account and a separate retirement savings account; however, retirement accounts were not designed with the same protections in mind as ABLE accounts. The money saved in an ABLE account does not count against asset... Read more
- What are the benefits of an Oregon ABLE account?
- The Oregon ABLE Savings Plan offers a way to save for qualified expenses, invest for the future and keep the benefits you rely on every day. When you make contributions to an Oregon ABLE account, your money has the chance to grow and earn interest, tax-free. And unlike many other investment... Read more
- Is there a mobile app for Oregon ABLE?
- If you already have an Oregon ABLE account, you can download the Vestwell app for iOS or Android and take your account with you on the go. You can make contributions, withdraw funds, share gifting pages, and more. Download the app today, log in using your Oregon ABLE username and password, and then... 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
