Payroll Deduction


Simplify your life and make consistent, automatic contributions to Edvest by setting up payroll deduction.

Payroll deduction is a convenient and flexible method to contribute to your existing Edvest account. If your employer offers this benefit, you can contribute as little as $15 per pay period from your paycheck. You can stop, start or change your deduction amount at any time.

If you leave your employer, contributions will automatically stop. You have the option to start a new payroll deduction with your new employer, if allowed, or you can choose to add contributions to your account by check, an automatic contribution plan or electronic funds transfer at any time.


How to Set Up Payroll Deduction

  1. Check whether your employer offers payroll deduction/direct deposit to Edvest
    If payroll deduction is not currently offered, and your employer is interested, please direct them to the Payroll Guide on this website or ask them to contact the Plan at 1-888-338-3789, Mon - Fri, 7am - 7pm CT.
  2. Open a new account‚ online or by mail
    If you have an existing Edvest account, please go to Step 3
    .

    To open an account online:
    • Read the Disclosure Booklet carefully
    • Click on "Open an Account", then click on "Enroll Online"
    • Follow the instructions to open an account. Repeat the process if opening more than one account
    • Print the Direct Deposit Allocation Form to establish payroll deduction or direct deposit from your paycheck
    • Go to step 3 below
    To open an account by mail:
    • Read the Disclosure Booklet carefully
    • Contact us to receive applications via mail
    • From the Plan web site, click on Account Forms at the top of the Home page
    • Click and print the individual account application for each beneficiary
    • Print the Direct Deposit Allocation Form
    • Complete and sign the account application(s) and the Direct Deposit Allocation Form
    • Mail the completed forms to the Edvest address on the form
    • Make copies of the forms for your records and provide one copy of the Direct Deposit Allocation Form for your employer
    • Go to step 3 below
    It may take up to 10 days to open an account by mail. Payroll contributions will not be accepted unless the account is opened and each investment portfolio is funded with at least $15 through recurring payroll contributions. The minimum per pay period must be $15 per investment portfolio.
  3. Complete the Direct Deposit Allocation Form.
    Use only one form to allocate your payroll contribution for all accounts and/or investment portfolios you own. Please make sure the allocation equals 100% and it is signed on the back.
  4. Mail the original completed and signed Direct Deposit Allocation Form and Account Application(s), if applicable, to the Edvest address on the form.
  5. Provide a copy of the Direct Deposit Allocation Form to your payroll department.
    Payroll deductions will begin on or after the effective date indicated on your form. Contact your employer's payroll department if the deductions don't start as expected or if you have any questions about the timing of your payroll deductions.
  6. For changes to your contributions in the future, please contact your employer.
    For any other changes to your account, please contact Edvest toll-free at 1-888-338-3789, Monday through Friday, 7:00 am - 7:00 pm CT.

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