Starting a Michigan Education Savings Program (MESP)
Obtaining info:
  • Call the Benefits office at 774-3661 to request a packet or stop by 108 Rowe Hall.
  • Go to website www.misaves.com to learn more about the program or to download the necessary forms.
  • Call toll free #1-877-861-MESP (6377), M-F 8a.m.-11p.m. to request a packet.

Opening an account is EASY! - follow these steps:

  • Complete the Michigan Education Savings Program Participation Agreement form, include an initial payment (minimum of $25), and send directly to TIAA.

Guide to Completing the Agreement Form:

Section I - Account registration

  • Account Owner Information = you (the employee).
  • Beneficiary Information = the child who will receive this money. (examples: your son/daughter, grandchild, niece/nephew)
  • Contingent Account Owner (optional) = a named individual who will be responsible for this agreement in the event of your death.

Section II - Initial Contribution

  • Check, Cashier's Check, or Money Order
  • How you want your account payments invested within TIAA? (this includes your initial payment and any subsequent payments)
  • Refer to the packet or website for details regarding your investment options.

Automatic Contribution Plan (optional)

This section allows you to set up automatic deductions from your bank account - this is not for payroll deduction from CMU. If you choose to go this direction, be sure to fill in Section III (banking information) as well.

Payroll Deduction

This section is for payroll deduction through CMU. Checking this box indicates to TIAA that you are going to be making subsequent payments through your employer pay checks. If you choose this route, you will also need to complete the MESP Authorization for Automatic Payroll Deduction form (more information can be found below).

Rollovers Under I.R.C.

This section is to roll over monies from another states' qualified state tuition program account. Call TIAA for the roll over form at 1-877-861-6377, M-F 8a.m.-11p.m.

Telephone Purchase Privilege

This section states that you are giving permission to take lump sums from your bank account listed under Section III by telephone direction to be put into your MESP account. Check the "NO" box if you are not interested in granting such permission.

Section III - Banking Information

Complete this section only if you want to have automatic deductions made from your bank account. It has nothing to do with payroll deduction through CMU. 

Section IV - Important Notice Concerning Privacy

Please read this notice carefully before signing.

Section V - Information about TIAA-Cref Products

Section VI - Agreements, Representations and Warranties

Please read this notice carefully before signing.

Section VII - Signature

Read, sign and date this form - it is not legal or binding without your signature.

Payroll deduction is available through CMU! - Follow these steps:

An employee needs to complete the Michigan Education Savings Program Authorization for Automatic Payroll Deduction form, and send directly to TIAA (can be sent along with original agreement).

Guide to Completing the Payroll Deduction Form:

Section I - To Be Filled Out By The Account Owner (YOU)

  • Complete the sections regarding your personal information (similar to Section I on the agreement form)
  • Complete the information regarding CMU
  • Payroll Information = Mary Hill (contact name), 204 Warriner Hall (address), 774-3481 (phone number)
  • Include the amount per pay period you would like deducted from your pay check each pay cycle (minimum of $15)
  • Complete Beneficiary Name section and check for new investment
  • DO NOT fill in the Investment Option Number 9 (this confirmation number will be sent to you from TIAA)
  • Sign and date the form

 Section II - Will Be Completed By Our Payroll Office

  • Make two copies of the form for your records (1 - will be sent to payroll and 1 - for your records) and send the original to TIAA directly (this can be sent with your original agreement).
  • TIAA will send you back a confirmation/account number - enter this number on one of your copies of the form and mail to the Payroll Office.
  • Payroll deductions will begin with the next available payroll once your form is received by the payroll office.

For additional questions -

Benefits and Wellness at 774-3661 or visit us in 108 Rowe Hall

or

Call TIAA directly at 1-877-861-MESP (6377), M-F 8a.m.-11p.m.

or

Visit www.misaves.com

CENTRAL MICHIGAN UNIVERSITY

1200 S. Franklin St • Mount Pleasant, Mich. 48859
Phone: 989-774-4000

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