You can make withdrawals of at least $10 at any time online. A transfer can take between 2-7 business days to complete, depending on how the money is allocated. With a prepaid card, withdrawing money is even faster. Any funds added before 4 p.m. on a business day will be available that day, otherwise they will be ready on the next business day. If you request a check, a $2.50 fee will be deducted from the check amount. You’ll get the payment in 5-7 business days. If you request a full withdrawal, your account will still be open and active, but the balance will be $0 until you add money to it. To close the account for good, give us a call.
Once your bank is connected, you can make a contribution of at least $10 directly into your ABLE account at any time online. It’s easy and secure. You can also set up monthly transfers of at least $10 to add funds automatically each month. Checks are also welcome. Make your checks payable to: Oregon ABLE Savings Plan and mail them to: Oregon ABLE Savings PlanP.O. Box 9891Providence, R.I. 02940-8091 Keep in mind that when you make a contribution, you must wait 10 business days before you can withdraw the money. Additionally, you must wait 20 business days before you can withdraw funds from a gift contribution.
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 twice a year limit. Head over to your account and decide how much of your future contributions you want to save in the cash option and/or investment.
Money saved in a cash option could earn minimal interest. The numbers will fluctuate slightly based on the interest rate of the US capital markets. With an investment, you can choose which portfolio to invest in based on your needs, and there’s a change of your money growing over time. Withdrawals usually take 2-7 business days to complete depending on how the money is allocated.
A cash option is a conservative alternative to investing. If you plan on spending money from the account in the near future, this option is faster to withdraw. Your assets are protected in an FDIC-insured account. Keep in mind that with a low level of risk there’s also a lower level of returns. See the Plan Disclosure Booklet for more information on FDIC insurance.
Yes, you can change your investment option 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 investment option, that counts towards your twice a year limit. If you do make a change to your investment option, we’ll sell your units in the original option and use the proceeds to buy units in the new one. You can also use this form.
If you decide to invest all or some of the money, there are three investment options to pick from: ABLE Conservative, ABLE Moderate and ABLE Aggressive. Each one has its benefits and limitation. We can help educate you on the differences between the three, but we can’t tell you which one to pick. You can learn more about these options on the How it Works page and the Plan Disclosure Booklet.
You have to add at least $25 to get your account started. After that, you can add as little as $10 at any time. If you decide to invest, you have to add at least 10% of your contributions to the investment option you picked.
Friends, family, and employers can make contributions to your account to help you reach your goals for the account. Learn more about how to make a gift contribution or simply use the Gifting Form to get started.
Everything can be managed online. The money can be saved in a cash option and/or invested in one of the three investment options offered: ABLE Conservative, ABLE Moderate and ABLE Aggressive. These choices are made during the account setup. By law, you can only make investment changes on your account twice a calendar year, and this includes changes to the allocation between cash/investment or changes to the investment option. Contributions and withdrawals can be initiated whenever you want.