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Frequently Asked Questions - Employees

		How do I start a payroll deduction with MESP? What is the minimum contribution amount for payroll deduction? Who do I contact for general questions about payroll deduction? Are payroll deductions taken from my paycheck pre-tax? What do I do if I change employers?

How do I start a payroll deduction with MESP?
First, check with your employer (Human Resources or Payroll department) to see if they participate in MESP. If they do, complete the Authorization for Automatic Payroll Deduction form (PDF, 60KB). Follow the instructions on the form to submit to your employer and to TIAA-CREF. If your employer does not currently participate, ask them to call us toll free at 1-877-861-MESP, (1-877-861-6377) for information on how to participate. If your employer chooses not to participate, you may want to consider an Automatic Contribution Plan (PDF, 157KB) (money taken directly from a checking or savings account).

What is the minimum contribution amount for payroll deduction?
The minimum allocated per pay period per investment option is $15.

Who do I contact for general questions about payroll deduction?
Please call us toll-free at 1-877-861-MESP, (1-877-861-6377). We're available 8:00 am to 10:00 pm Eastern Time.

Are payroll deductions taken from my paycheck pre-tax?
Contributions made through payroll deduction are made on an after-tax basis.

What do I do if I change employers?
If your new employer participates in the Program's payroll deduction service, you may establish new payroll deduction contributions to your Program account(s). Or you may elect to establish an Automatic Contribution Plan (PDF, 157KB) directly from your bank account in order to avoid any interruption to your regular investing. Please call us toll-free at 1-877-861-MESP, (1-877-861-6377) for more information.

WE'RE HERE TO HELP

Have a question you don't see listed? Need clarification?

Call us toll-free at
1-877-861-MESP
(1-877-861-6377)

We're available 8:00 am to 8:00 pm Eastern Time.

Don't forget you can set up an Automatic Contribution Plan (PDF, 157KB) or use Payroll Deduction (PDF, 60KB) for your contributions (if offered by your employer).

PDF files require the free Adobe Acrobat Reader. Get it here.

Access our glossary for the meanings of terms used throughout this site.

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	Michigan Education Trust

The tax information contained on the Michigan Education Savings Program (MESP) Web site is not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding tax penalties that may be imposed on the taxpayer. It was written to support the promotion of the products and services addressed in the Web site. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor.

Consider the investment objectives, risks, charges and expenses before investing in the Michigan Education Savings Program. Please call toll-free 1(877) 861-6377 for a Disclosure Booklet containing this information. Read it carefully.

Before investing in a 529 plan, you should consider whether the state you or your designated beneficiary reside in or have taxable income in has a 529 plan that offers favorable state income tax or other benefits that are only available if you invest in that state's 529 plan.

TIAA-CREF Individual & Institutional Services, LLC, distributes MESP. The State of Michigan, its agencies, TIAA-CREF Tuition Financing, Inc., Teachers Insurance and Annuity Association of America and its affiliates do not insure any account or guarantee its principal or investment return except for TIAA-CREF Life Insurance Company's guarantee to MESP under the funding agreement for the Principal Plus Interest Option. Account value will fluctuate based upon a number of factors, including general market conditions.

Investment management, program administration and distribution of The Michigan Education Trust (MET) program is provided solely by the Michigan Department of Treasury. MET is not managed by TIAA-CREF Tuition Financing, Inc. nor is it distributed by TIAA-CREF Individual & Institutional Services, LLC.

The MESP Web site contains links to other Web sites. Neither MESP nor TIAA-CREF Tuition Financing, Inc. and its affiliates are responsible for the content of those other Web sites. The accuracy of information on those sites cannot be confirmed.