How it Works
Save and grow your future.
Opening an account
You can set up an Oregon ABLE account in as little as 10 minutes. We’ll ask for some information about the beneficiary, the qualifying disability, and how the account will be funded. To complete the setup, you’ll customize your account and make decisions about the money added.
You can save money in a cash option, invest, or both. The choice is up to you. There’s a $25 minimum deposit to get your account started and a $5 minimum for any contribution or withdrawal after that.
Why a cash option?
If you’d rather be a “saver” than an “investor,” we offer a conservative cash option for your funds. You might consider this choice if you plan on spending money from your account in the near future. The cash option protects your balance by putting all of your assets into an FDIC-insured account with a low level of risk, but also a lower level of potential returns.
Picking an investment option
There are three types of financial portfolios to pick from: ABLE Conservative, ABLE Moderate, or ABLE Aggressive. Each investment option has its own benefits and limitations. It’s up to you to decide which one is right for you.
ABLE Conservative
ABLE Conservative seeks to provide current income and some growth by investing in a portfolio of mutual funds that consists of 20% global public stocks and 80% bonds. Overall, there’s a small amount of risk and limited appreciation potential, designed for a shorter investment period.
ABLE Moderate
ABLE Moderate seeks to provide a combination of growth and current income by investing in a portfolio of mutual funds that consists of 50% global public stocks and 50% bonds. Overall, there’s a medium level of risk for a pursuit of investment return, designed for a medium or uncertain time horizon.
ABLE Aggressive
ABLE Aggressive provides the potential to grow by investing in a portfolio of mutual funds that consists of 80% global public stocks and 20% bonds. Overall, there’s a higher level of risk and potential for return (or loss), designed for a longer investment period (10 years or more).
For more detailed information on the investment options please see the Plan Disclosure Booklet.
You can also check out the Performance History of these investment options.
Adding money
With the online platform powered by Vestwell, adding money to your account is simple and intuitive. Your bank account is securely connected to the Oregon ABLE Savings Plan account to protect your information. You can add money whenever you want, even as little as $5 at a time, to help you reach the $18,000 yearly maximum.
There are a number of ways you can build your savings, including:
One-time contributions
Recurring contributions
Savings Boosters
SSA direct deposit
Payroll direct deposit
ABLE to Work
Gifting
Tax credits
Learn more about contributions
Using your account
It’s easy to make withdrawals from your Oregon ABLE 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.
Fees
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’s a low annual fee of $35 for each Oregon ABLE account to keep everything running smoothly. There are also low fees on the underlying mutual funds, which are a part of each of the investment options, and a state administrative fee. These add up to between 0.30% and 0.34% of the account’s balance per year. Learn more in our Fees FAQ.
