NYS Comptroller Seal  

Bureau of State Payroll Services

Date: September 21, 1999

 Bulletin No. 121


Subject New York's College Savings Program
Purpose To avoid on-line entry errors
Affected Employees All employees
Background This is a supplement to Payroll Bulletin #91 (dated April 9, 1999) on New York's College Savings Program. It addresses data-entry problems that have been occurring while entering direct-deposit information for participants in New York's College Savings Program.
Specifics Two on-line entry errors have been occurring frequently which can prevent or delay an employee’s College Savings Program contributions from being properly credited to the employee’s account (see illustration):

1. The employee’s social security number must be entered in the direct deposit account number field.

In order to ensure that funds are properly deposited to an employee’s College Savings Program account, a complete account number must be entered. There are three parts to the account number:
bank transit number
program account number
employee’s social security number.

Both the bank transit and program account number are pre-printed on the direct deposit enrollment form. The employee’s social security number must also be entered. If the social security number is not entered, the direct deposit may be rejected.

2. Account type "checking" must be selected.

The direct deposit form for the College Savings Program has a pre-printed check mark for account type. Checking must be selected when entering on-line information.

Illustration 

For Additional Information

Questions regarding this bulletin may be directed to the Payroll Deductions mailbox.