Oklahoma 529 College Savings Plan

Frequently Asked Questions - Payroll Deduction: Employees

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How do I start a payroll deduction with OCSP?
First, check with your employer (Human Resources or Payroll department) to see if they offer payroll deduction for OCSP. 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 1-877-654-7284 for information on how to participate. If your employer chooses not to participate, you may want to consider an Automatic Contribution Plan (PDF, 50KB) (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 1-877-654-7284. We're available 7:00 am - 7:00 pm Central 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 OCSP's payroll deduction service, you may establish new payroll deduction contributions to your OCSP account(s). Or you may elect to establish an Automatic Contribution Plan (PDF, 50KB) directly from your bank account in order to avoid any interruption to your regular investing. Please call us toll-free at 1-877-654-7284 for more information.

 

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

Call us toll-free at
1-877-654-7284)

We're available 7:00 am to 7:00 pm Central Time.

Don't forget you can set up an Automatic Contribution Plan (PDF, 50KB) or use Payroll Deduction (PDF, 45KB) for your contributions (if offered by your employer).

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

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The tax information contained on the OCSP 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 Oklahoma College Savings Plan (OCSP) is administered by the Board of Trustees of the Oklahoma College Savings Plan. TIAA-CREF Tuition Financing, Inc. (TFI) serves as Program Manager. TFI's affiliate, TIAA-CREF Individual & Institutional Services, LLC, is the distributor.

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 Oklahoma College Savings Plan. Please call toll-free 1-877-654-7284 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 Oklahoma, 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 OCSP 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 OCSP Web site contains links to other Web sites. Neither OCSP 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.

© 2010 TIAA-CREF Tuition Financing Inc.