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World Institute on Disability Consumer Financial ProtectionBureauJuly 8, 2016What We HeardMet with organizations, legal representatives and individuals in Nebraska and nationally to discuss needs and expectations for an ABLE savings plan. Discussed range of accessibility and design issues as well as investment and banking needs.Persons with disabilities have hopes and dreams just like any other sibling, friend or family member.The goal of an ABLE plan is to create financial independence to help account owners become an integral part of their community and as self-sufficient as possible.Parents and grandparents should have an easy way to give monetary gifts to all their children and grandchildren.Parents want the security of knowing that when they pass, their child, no matter what age, will have financial resources.Designed with the CommunityThe Enable Savings Plan was designed with the disability community, not for the disability community. We did not assume we knew what the community wanted or needed.Based on their feedback, our mission became to develop a plan:That could be understood and used by a broad-range of individuals with disabilities and their legal representatives with minimal paperwork;That was low cost and flexible to appeal to individuals with varying investment goals and time horizons;Provided educational resources including financial literacy tools; andEncourage both formal and grassroots, social media efforts to keep account owners and the disability community informed and educated.FeaturesOpen an AccountOnline or, if preferred, by completing a paper Enrollment FormDisability Type and Disability Code are self-certified at enrollmentAuthorized to Act features include:Parents and guardians of an account owner for a minorAuthorized representatives (such as those with power of attorney, Conservators and Guardians) opening and managing an account on behalf of the account ownerUnderstanding the importance of videos, How To videos are included on the site. At launch there is a How to Open an Account video.Home PageMost important information in the simple navigation pane at the top of the pageLinks within boxes in the middle of the page to important topics which can be swapped out as other important topics are surfacedEasy way to become part of our email listLink to our hallmark videoEnroll OnlineSix steps with visuals to know which step you are currently inTips on the page to give additional information to help complete the processThe system will pre-fill information as applicableInvestFive Investment Options. Account owners or their representatives can choose which one meets their personal needs based on their time horizon, personal situation and savings goals.Investments are not FDIC Insured* No Bank, State or Federal Guarantee May Lose Value* Except the Bank Savings and Checking Account Investment OptionsThree Target-Risk Investment Options(5 – 10 years+ time horizon)Growth Option Investment goal is for growth and some income56% Domestic Equity24% International Equity20% Fixed IncomeModerate Option Investment goal is a balance of growth and income42% Domestic Equity18% International Equity35% Fixed Income5% Cash EquivalentConservative Option Investment goal is for current income and some growth21% Domestic Equity9% International Equity55% Fixed Income15% Cash EquivalentFDIC-Insure Investment OptionsBank Savings Option (3-5 year time horizon)This Investment Option offers a guaranteed return of investment and the stability of principal that is FDIC-insured. This option may be appropriate for those who want the security of a safe investment. (At launch 1.00% APY)Checking Account Option (short time horizon – Launching fall 2016)The FDIC-insured checking account offers check writing and a debit card to pay for daily and repetitive qualified expenses. Limits to withdrawals are imposed.Contributions to and earnings on investments in the Bank Savings and Checking Account Options are insured by the FDIC on a per participant, pass-through basis to each account owner up to the maximum limit established by federal law, which is currently $250,000.ContributeMethods:By checkPre-scheduled automatic transfers from a bank accountOne-time contribution from bank accountPayroll deduction through direct depositOnline gift certificates for friends and family$14,000 annual contribution limit and a maximum account balance limit of $360,000Notification when balance nears SSI impact limit of $100,000WithdrawFunds withdrawn from Target-Risk and Bank Savings Option:Check to account owner or designated third partyACH directly to owner’s bank accountSystematic withdrawal plan (e.g. to pay for rent on a specific day of the month)Checking AccountWrite a checkUse a debit cardHelp individuals become more financially independent by having their own checking account and debit card like their peersFully ADA-compliant websitePublic facing website featuresBlogsManageEducational materials and financial literacy toolsLearning tools through videosOnline gift certificates for contributions by others Secure account accessView balances, statements, confirmationsAccount maintenance such as changing addressContribute and withdrawCustomer Care Center 8:00 a.m. to 8:00 p.m. CT with Voice Response System and TRS capabilities.Facebook and social media sharingSample Financial Literacy and EducationAre You Enable Ready?Beginning of financial literacy series, this page is begins the thought process about how to get ready to have an Enable Savings Plan account.What do you want to save for?How much should you save?Make a plan to saveStart savingEnable UEnable U within our resource section provides printable pages describing specific topics of interest. We currently have:Enable and Special Needs TrustsEnable and Inheritances or SettlementsConservator v. Guardians and EnableGrandparents and EnableEnable and SSI/SSDI Representative PayeesEnable Your ClientsMarketing and OutreachNebraska-Wide Short ListDHHS Disability Services and Medicaid Ollie-Webb Center as consultantArc of Nebraska and all of their offices Special OlympicsCommission for the Deaf and Hard of Hearing Commission for Blind and Visually Impaired Consortium of Citizens with Disabilities Nebraska Down Syndrome SocietyVocational Rehab Groups Nebraska Bar Association Easter SealsVeterans Task Force ESU (in schools)Salt Dogs Homers Heroes All Pay LeagueEfforts include:Pre-launch train the trainer Client forumsPresence at their events SponsorshipsContinuous outreach through onsite meetings, emails, sharing of information to disseminate to their constituents, Facebook, blogsNationalNational Down Syndrome Society NDIThe Arc of the United States TASHAutism SpeaksMember of United States Access Board CFPBEfforts include:One-on-one meetings with leadership team Continuous conversations and information exchange Sponsoring national and leadership conferencesSharing of marketing materials, information, press releases, updates to distribute to their constituents, Facebook and blogsEnable Savings Plan Legal StructureAuthority:Nebraska’s ABLE Act signed into law May 28, 2015Issuer:The Nebraska Achieving A Better Life Experience Program TrustTrustee:Don Stenberg, Nebraska State TreasurerInvestment Manager:Nebraska Investment CouncilDistributor:First National Capital Markets, Inc. Member FINRA, SIPCProgram Manager:First National Bank of OmahaFirst National Capital Markets and First National Bank of Omaha are affiliates.Questions?Deborah Goodkin, Managing Director 402-602-7204dgoodkin@ ................
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