Setting up NY 529 College Savings payroll deductions

This section enables employees to update their existing New York’s 529 College Savings Program payroll contributions. New York's 529 College Savings Program Direct Plan provides New York families with a tax-advantaged way to save for college, and allows City employees to save for college through easy payroll deductions.

To set up NY 529 College Savings payroll deductions

1. From the navigation menu, click Employee Self Service, then click Payroll and Compensation, then click College Savings.
   
   The College Savings page appears.
   
   
2. Click the Enroll button.
   
   A College Savings Info dialog box appears.
   
   
3. In the Account Name field, enter the name of the account holder.
   
   Important: The name that appears in this field must match the name on your account. Additional names on the account are acceptable.
   
   
4. In the Account Number field, enter the account number.
   
   Important: The NY 529 College Savings Account number begins with ‘531’ which is pre-populated.
   
   
5. In the Confirm Account Number field, enter the account number again.
   
   Note: ESS will not allow you to cut and paste from the Account Number field. You must re-enter the entire account number.
   
   
6. In the Amount to Be Deducted per pay check, enter the deducted amount.
   
   
7. Click the Submit Changes button.
   
   A Confirm dialog box appears containing the new College Savings deduction information.
   
   
8. Read the new College Savings payroll deduction information to ensure that all information was entered correctly.
   
   
9. In the Employee Authorization inner dialog box, enter the last four digits of your Social Security number.
   
   
10. In the Employee Authorization inner box, click the Certify/Confirm button.
    
    Important: An email will be sent to you stating that your College Savings payroll deduction enrollment is pending and that it should be processed by the next business day but may take up to two paychecks to become effective.
    
    
11. For more information regarding New York’s 529 College Savings Program, employees should refer to the OPA website.
    
    

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Related topics
EForms
Canceling your NY 529 Savings payroll deductions
Changing your NY 529 College Savings Settings
Removing pending changes for NY 529 College Savings

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Last revised: Septemer 1, 2009