TSA and Deferred Comp Employee Self-Service Instructions

 

ADD, CHANGE, OR STOP DEDUCTIONS

  • Log onto the Employee Self‐Service website, www.state.mn.us/employee.
  • Click on Other Payroll.
  • Click on Savings Plans.
  • Click on Input Deferred Cmp/TSA Deductn.
  • Click on Add Savings Plan.
  • In the Plan Type Description box select the plan you wish to modify:
    • MSRS – Def Comp for the Deferred Compensation Plan
    • TSA – MnSCU for the Tax Sheltered Annuity/403B Plan
  • In the Status box:
    • select Active if you are starting or changing the amount of the deduction; or
    • select Inactive if you are stopping the deduction.
  • In the Start Date select a date within the pay period for the paycheck that you want to start, stop, or change the deduction.
  • Enter your desired deduction amount:
    • In the Before‐Tax section for tax deferred contributionS
    • In the After‐Tax (ROTH) section for a ROTH TSA/403B or ROTH Deferred Comp
    • In the left‐hand box enter a flat dollar amount to be deducted from each pay check. Minimum amount is $10. Use a decimal but not a dollar sign (e.g., 125.00 or 12.50). OR
  • In the right‐hand box enter a percentage of pay to be deducted from each paycheck. Use a decimal but not a percent sign (e.g., 3.5 or 10.00).OR
  • Leave the boxes blank if you are making the deduction Inactive.

Please note: You cannot deduct 100% of your total gross pay for Deferred Comp or the TSA/403B because Social Security, retirement, etc. may also be deducted from the paycheck.

  • Click on Save at the bottom of the screen. A Confirmation screen should appear stating Save was successful.
  • If you are entering a large one‐time deduction for a specific pay period, repeat the steps above to reduce or stop the deduction and select a Start Date that occurs in the following pay period.
  • Be sure to click on Sign out when you are finished using Employee Self‐Service.

ARE YOU ENROLLED?

If you have never contributed to the Tax Sheltered Annuity/403B or the Deferred Compensation Plan Deductions in the past, you will need to enroll in the plan. To enroll in Deferred Comp, print and complete an enrollment form from www.msrs.state.mn.us/mndcp and send it to the address or fax number on the form. To enroll in the TSA/403B, go to www.tiaa.org/minnesotastate, click on the “Ready to Enroll” box and follow the instructions.

 

 

 

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Details

Article ID: 132921
Created
Mon 5/3/21 12:21 PM
Modified
Fri 7/2/21 12:27 PM