Developmental Disabilities Life Opportunities Trust Washington State Developmental Disabilities Endo

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Developmental DisabilitiesLife Opportunities
TrustWashington State Developmental Disabilities
Endowment Trust Fund
Invest In
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What is the Life Opportunities Trust?

• Families and advocates have long looked for a way
  to save money for the future of their loved ones,
  while protecting the public benefits that they
  are entitled to use.
• The trust fund was created by the legislature to
  help address the life-long need that people with
  developmental disabilities have for supports.

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Eligibility

• Individuals are eligible to be beneficiaries if
  they meet three conditions at the time of
  enrollment

• Meet the state definition of
  developmental disabilities
• Reside in the state
• of Washington
• Under the age of 65

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What Types of Trust Accounts are Available?

• Trust I Third Party Individual Trust Account
• Anyone other than beneficiary may contribute
  funds
• Upon the death of the beneficiary, the
  remaining funds are distributed according to
  instructions in the Joinder Agreement

• Trust II Self Settled Individual Trust Account
• Only the beneficiarys funds may be contributed
• Upon the death of the beneficiary, the state is
  entitled to recover dollar for dollar for
  services provided

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How can Disbursementsfrom the Account be Used?

• Education, information, and training
  opportunities.
• Living arrangements, including personal
  assistance services, skill building, financial
  management, medical monitoring, meal preparation,
  shopping home maintenance and house cleaning.
• Employment supports and tuition.
• Assistive technology,
• including computers and
• electronic equipment.
• Vacation, travel
• and recreation.

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Who is Involved withthe Endowment Trust Fund?

• The Endowment Governing Board - appointed by the
  Governor, sets policy for the program.
• The Washington State Investment Board - manages
  the investments.
• The Developmental Disability Council- provides
  staff to support board activities and coordinate
  programs.
• The Arc of Washington State selected as Trust
  Manager.

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As Trust ManagersThe Arc of Washington
Statewill Provide

• Enrollment Services
• Accept Deposits
• Authorize and provide disbursements

• Answer questions or concerns from families
• Offer continued support and information for
  families

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State Matching Funds

• The Washington State Legislature dedicated 5
  million to provide matching funds for the
  individual trust accounts.
• Interest is earned on both contributions and
  matching funds.
• Earning rate last year was over 6.
• (Rate is after investment fees).

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Summary ofState Matching Policies

• Matching rate on contributions 25.
  
  
• Minimum contribution to receive match.
• 25.00 per month
• Maximum annual / lifetime state match.
• 775 per year
• 7,750 per lifetime

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Continued Summary of State Matching Policies

• Vesting period 3 years.
• State matching money reverts to the Endowment
  Trust Fund upon death of the beneficiary.
• Each beneficiary may have only one account that
  qualifies for state matching money.

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Limited Time Only Enhanced State Matching
Policies

• Through June 2008 the state will match 100 of
  the initial 600 enrollment fee.
• Through June 2008 the state will match 100 of
  the tax preparation and filing fee.
• Through June 2008 the state will match the first
  75.00 of the annual management fee.

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Additional Incentivesfor Families to Participate

• Contribution and disbursement plans can be
  tailored to their needs
• Fees are very competitive with privately managed
  trusts
• The Washington State Investment Board offers a 25
  year history of successful investments at a very
  low cost.
• People with developmental disabilities will have
  increased resources, enabling them to have
• greater choices/ increased self-reliance.
• improved access to their communities.

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What is the Next Step?
Send Joinder Agreement, letter, and check to the
Arc of Washington State
Step 6
Step 5
Prepare enrollment fee check
Step 4
Review and fill out Joinder Agreement
Step 3
Receive legal documents
Contact case manager for letter of eligibility
Step 2
Step 1
Receive information booklet
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Contact Information

• For additional questions, information packets or
  trust documents
• Please call 1-888-754-8798
• Patti Bell, Trust Manager
• Samantha Vaughn, Trust Assistant
• Email
• patti_at_arcwa.org or arc_at_arcwa.org
• Website
• www.arcwa.org (Click on the Endowment Trust
  Fund Link)