Oregon ABLE Savings Plan

E238187

The Oregon ABLE Savings Plan is a state-sponsored, tax-advantaged savings program that allows people with disabilities and their families to save for disability-related expenses without losing eligibility for critical public benefits.

All labels observed (2)

Label Occurrences
Oregon ABLE 1
Oregon ABLE Savings Plan canonical 1

How this entity was disambiguated

Statements (42)

Predicate Object
instanceOf ABLE savings program
state-sponsored savings program
tax-advantaged savings plan
accountOwner eligible individual with a disability
accountType individual savings account
administeredBy Oregon
surface form: State of Oregon
allows tax-advantaged growth of savings
withdrawals for qualified disability expenses
alsoKnownAs Oregon ABLE Savings Plan
surface form: Oregon ABLE
basedOn Achieving a Better Life Experience Act of 2014
beneficiaryType individual with a qualifying disability
benefitProtection account balances up to certain limits are disregarded for Medicaid resource tests
account balances up to certain limits are disregarded for SSI resource tests
benefitType savings and investment vehicle for disability-related needs
categoryOfExpenses qualified disability expenses
country United States of America
surface form: United States
eligibilityCriterion onset of disability before age 26 (federal ABLE standard during 2014–2025)
enables families of people with disabilities to save for disability-related expenses
people with disabilities to save for disability-related expenses
goal to promote financial independence for people with disabilities
modeledAfter 529 college savings plans
protectsEligibilityFor Medicaid
Supplemental Security Income
purpose to help people with disabilities save without losing eligibility for public benefits
qualifiedExpenseType assistive technology
basic living expenses
education
employment training and support
financial management and administrative services
health care
housing
legal fees
transportation
regulatoryFramework federal ABLE Act and related IRS and SSA guidance
savingsDoNotCountAgainst certain federal means-tested benefit limits
sponsoredBy Oregon
surface form: State of Oregon
state Oregon
targetPopulation Oregon residents with disabilities
taxAdvantaged true
taxTreatment earnings grow tax-deferred for federal tax purposes
qualified withdrawals are tax-free for federal tax purposes
website https://oregonablesavings.com/

How these facts were elicited

Referenced by (2)

Full triples — surface form annotated when it differs from this entity's canonical label.

Oregon State Treasury oversees Oregon ABLE Savings Plan
Oregon ABLE Savings Plan alsoKnownAs Oregon ABLE Savings Plan
this entity surface form: Oregon ABLE