Oregon – ABLE Savings Plan

Program Name: Oregon ABLE Savings Plan (click to open an account)
Status: Open for Enrollment
State Program Manager: Sumday, a division of BNY Mellon
State Account Limit: $400,000
Accepts Out Of State Residents: No
Annual Contribution Limit: $15,000
ABLE To Work Act Contribution: 12140
Number Investment Options: 4
Program Investment Institution(s): Vanguard and DFA: “Except to the extent of the Federal Deposit Insurance Corporation (FDIC) insurance provided for the debit/checking option, ABLE accounts will be subject to investment risks, including loss of the principal amount invested.”
Debit Card Or Prepaid Card: Yes
Withdrawal Hold Rules: Yes
FDIC Insured: Yes.
ABLE Legislation:

Oregon Senate Bill 777 implemented the Federal ABLE Act in Oregon.

Senate Bill 777

 

Account Disclosure Document(s):

Account Disclosure Document


Program at a Glance

  • Is there an initial minimum contribution requirement to open an ABLE account? If so, how much?
    Yes. $25.
  • Is there an annual set fee to maintain the account? If so, how much?
    Yes. $35
  • Are there fees or restrictions to the number of disbursement you are allowed? If so, what are they?
    No.
  • Is there a “debit card/purchasing card” available with the program? If so, what is the added cost?
    Yes. $1.25 per month
  • Can I roll over my ABLE account to another ABLE program? If so, what is the fee to do so?
    Yes. $50.
  • Fee Range
    • Annual Maintenance Fee:
      $35
    • Check Fee:
      $2.50
    • Debit Card Fee:
      $1.25
    • Investment Option Fee Range:
      Between .3% to .37% See state's ABLE Plan Disclosure Documents and Investment Performance Report for detailed information.

      Account Disclosure Document

    • Statement Fee:
      $10 annually
    • ABLE Account Transfer Fee:
      $0
    • Withdrawal Transaction Fee:
      No fee for withdrawals
Oregon ABLE Savings Plan (click to open an account)
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