Mississippi Affordable College Savings Program (MACS)

Frequently Asked Questions - Payroll Deduction: Employees

How do I start a payroll deduction with MACS?
First, check with your employer (Human Resources or Payroll department) to see if they offer payroll deduction for MACS. If they do, complete the Authorization for Automatic Payroll Deduction form (PDF, 45KB). 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 1-800-486-3670 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 contribution per pay period per investment option is $15.

Who do I contact for general questions about payroll deduction?
Please call us toll-free at 1-800-486-3670. We're available 7:00 am - 7:00 pm Central Time.

Are payroll deductions taken from my paycheck pre-tax?
All contributions made to the MACS Plan, including payroll deduction, are made on an after-tax basis.

What do I do if I change employers?
If your new employer participates in MACS's payroll deduction service, you may establish new payroll deduction contributions to your MACS 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 1-800-486-3670 for more information.

 

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WE'RE HERE TO HELP
Have a question you don't see listed? Need clarification?

Call us toll-free at
1-800-486-3670

We're available 7:00 am to 7:00 pm Central Time, Monday - Friday.

Don't forget you can set up an Automatic Contribution Plan (PDF, 157KB) or use Payroll Deduction (PDF, 145KB) 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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The tax information contained on the Mississippi Affordable College Savings Program (the Plan) 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.

The Plan is administered by the Board of Directors of the College Savings Plans of Mississippi and the Mississippi Treasury Department. TIAA-CREF Tuition Financing, Inc. (TFI) serves as Program Manager.

The investment approaches described are not recommendations and do not take into consideration personal goals or preferences. After evaluating information you consider important in making an investment choice, the ultimate decision is up to you. It is a good idea to revisit your investment strategy periodically as your goals, personal financial situation, and market conditions change.

Consider the investment objectives, risks, charges and expenses before investing in the Plan. Please call toll-free 1-800-486-3670 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.

The State of Mississippi, 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. Account value will fluctuate based upon a number of factors, including general market conditions.

The Plan Web site is for informational purposes only, and does not constitute an offer to sell or solicitation of an offer to buy any security that may be referenced on the site. Such offer or solicitation can be made only through the Disclosure Booklet.

The Plan Web site contains links to other Web sites. Neither the Plan nor TFI and its affiliates are responsible for the content of those other Web sites. The accuracy of information on those sites cannot be confirmed.

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