What happens in the event of death or disability of the beneficiary?
If your beneficiary unfortunately dies or becomes disabled, you can withdraw the funds in your account, but the earnings portion (not the amount you contributed) of this withdrawal is subject to federal income tax. You will not be charged the additional 10% federal penalty tax. You also have the ability to roll your Oregon College Savings Plan funds into an Oregon ABLE Savings Plan account for a beneficiary or eligible family member, without being penalized. Learn more here.