Michigan Education Savings Program (MESP)

Important Changes Coming To Your Michigan Education Savings Program

This June, MESP will enhance its investment menu and transition to a new account management system.

MESP is committed to innovation, and more importantly, positioning your college savings investments for optimal performance throughout the lifetime of your account. As such, we are transitioning the current Age-Based Investment Options (Conservative, Moderate and Aggressive) to Enrollment Year Investment Options, offering the flexibility to choose the expected year of enrollment in school for your beneficiary or to choose an Enrollment Year Option that more closely aligns with your investment objectives and risk tolerance.

In addition, MESP will introduce a new online account management system improving the overall investor experience and making college savings even easier.

MESP account owner information, including historical information, account preferences and investment selections will automatically transition to the new system.

After the transition, you will need to create a new username and password to access your account online. The following items are required to complete the new registration process:

  • Your current or new MESP account number*.
  • Account Owner Social Security Number.
  • Account Owner Zip Code.

Payroll Direct Deposit Update (for MESP account owners who contribute by paycheck)

Because your MESP account number and the bank routing information will change, any direct deposit contributions submitted by employers after June 11, 2020 will be returned unless direct deposit instructions are updated. If you currently contribute to your account through payroll direct deposit, you will receive a Payroll Direct Deposit Form (see sample) containing details required to update your payroll direct deposit instructions. If you did not receive this letter, please contact us at 1-877-861-6377.

New Payroll Direct Deposit Contributions

The establishment of new payroll contributions is temporarily discontinued as of May 1, 2020 to prepare for the transition. New payroll direct deposit contributions may be established after the account management transition on June 15, 2020.