Payroll Contribution

How do I set up payroll contributions with the Utah Educational Savings Plan?

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Automated payroll contributions are available with employers that allow direct deposit of payroll funds. You must have an account with UESP before setting up payroll contributions. You can open a new account online or by completing an Individual Account Agreement and mailing it to UESP, PO Box 145100, Salt Lake City UT, 84114-5100, or fax it to 800.214.2956.

To set up payroll contribution via your online account, follow the steps below.

Step 1: Log in to your UESP account online.
Step 2: Select Set up/Payroll Contribution.
Step 3: Click Add a Contribution to Another Account.
Step 4: Enter the beneficiary’s account number and birthday and complete the payroll contribution information. You will need to provide the following information:

  • The total amount to be contributed to your UESP account(s) from your paycheck each pay period
  • Your employer’s name
  • The dollar amount or percent of your deduction to go to each UESP account each pay period

Once you agree to the terms, you will be provided a routing and bank account number to give to your employer. To activate your contributions, print the confirmation page and provide the information to your employer. You or your employer will need to add this as a new direct deposit of payroll funds.

 

Can I contribute through payroll contribution to another UESP account that I do not own?

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Yes. However, you must be a UESP account owner on another account for another beneficiary to contribute via payroll contributions.

 

Are payroll contributions pre-tax or after-tax?

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All payroll contributions to UESP accounts are after-tax contributions.

 

Will enrolling in payroll contribution stop any scheduled one-time or recurring contributions I make to UESP?

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No. Establishing payroll contributions does not stop or change existing scheduled one-time or recurring contributions. You can cancel other scheduled contributions to UESP online or by submitting the One-Time or Recurring Contributions Authorization/Change form.

 

How do I cancel or make changes to my payroll contribution?

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You can make changes to your payroll contribution by logging in to your UESP account online and clicking Set up/Change Payroll Contribution. You will be taken to your last saved payroll selections. You can change your total payroll contribution, employer name, and the dollar amount or percentage of the contribution that goes to each UESP account. Changes to your amount or cancellation of your contribution will not take place until you print and give your employer the confirmation page and your employer authorizes it.

Please be aware that depending on the timing of your request, the change may not occur until the next pay period.

 

I recently changed the amount of my payroll contribution. Why hasn’t that taken effect yet?

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You may have requested a change to your payroll contribution through your UESP account online but have not yet submitted the confirmation page to your employer to make the change. Please submit the UESP confirmation page to your human resources or payroll department and verify with them that your change has been made.

 

When will the money post to my UESP account?

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Payroll contributions to UESP account(s) are normally posted within two business days of UESP receiving the funds from your employer. You can verify investment of the funds by accessing your UESP account online.