FAQs
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- ALR
- Benefits
- Contributions
- Eligibility
- Fees
- General
- Gifting
- How it Works
- Linking Bank Accounts
- Opening an Account
- Prepaid Card
- Qualified Expenses
- Successors and Estates
- Tax Info
- What is a successor designated beneficiary?
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A successor for an ABLE account must be a sibling, step-sibling, or half-sibling of the Account Owner and must also qualify for an ABLE account. A successor must be added to the account before the death of 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, but ABLE accounts were designed to have unique protections not found with other types of savings and investment accounts. The money saved in an ABLE account is... Read more
- How do I make a gift contribution?
- It's easy to make contributions to someone else's Oregon ABLE Savings Plan account. You can make online gift contributions for as little as $5 to as much as $19,000 through a beneficiary’s personal gifting page. Simply ask the recipient to send you their unique gifting URL. Or, you can make offline... Read more
- How can I request gift contributions to my account?
- Requesting gift contributions from family and friends is a great way to help you reach your savings goals and it couldn’t be easier. Just sign into your account to find your gifting page information and share your unique gifting URL. You’ll be able to customize your page and select where you would... Read more
- How does the account work?
- 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 make investment changes on your account... Read more
- How do I open an account?
- It takes only 10 minutes to open an account online. You (or your Authorized Legal Representative) will need to have some basic information handy. Once you’ve been verified, you’ll set up the account details by: Creating a login; Connecting a bank account; and then Selecting the Cash Option... Read more
- How do I know if I’m an Authorized Legal Representative (ALR)?
- An Authorized Legal Representative (ALR) is someone who is legally authorized under state and federal law to make decisions for the beneficiary. You’re an ALR if you are selected by the eligible beneficiary with legal capacity, you have Power of Attorney, are a conservator or legal guardian, are a... Read more
- What do I need to open an account?
- Make sure you have this information handy: Your email; Your date of birth; Social Security Number or Tax Identification Number; and Contact details. If you’re an Authorized Legal Representative, you’ll need the same information as the beneficiary’s, plus your work status. You may also need... Read more
- Am I eligible for an ABLE account?
- You are eligible for an account if you meet both of these criteria: Your disability impacts you enough that it meets the disability criteria for Supplemental Security Income (SSI) or Social Security Disability Insurance (SSDI); AND This disability developed before your 26th birthday. If you do... Read more
- What happens if I withdraw money for a non-eligible expense?
- You do not need to have your expenses approved in advance. Eligible expenses include anything that improves or maintains the health, independence, or quality of life of the person with a disability. The federal government acknowledges that each of us has different needs and an idea of what a good... Read more
