Your employees can send contributions to their individual non-retirement plan accounts by electronic funds transfer (EFT). We treat annuity accounts and mutual fund accounts differently. Non-retirement plan annuity accounts can be identified by their contract numbers, which start with a letter. Employees who have contract numbers beginning with a letter can set up EFT online for either a one-time contribution or for ongoing scheduled contributions. They'll need to log into "Account Access" and select "Make Contributions under the EFT information heading. Then follow the instructions.
To set up EFT for an existing TIAA-CREF mutual fund account, your employee will need to submit an Account Services form for each fund. They need to select "Telephone Purchase" and/or "Automatic Investment Plan" in Section one, and complete Sections five and eight to let us know how much to invest, how often, and which bank account to access for the EFT(s).
Your employees can open an IRA or mutual fund account online using EFT. Also, when they establish their account online, they can set up an automatic investment plan to make regular payments from their bank account using EFT.
Employees who are receiving payments can make arrangements to get those payments by EFT. All they need to do is log into "Account Access" and select "Payment Information" under the EFT information heading. Then follow the instructions to provide their bank information, including account number, address, phone number and routing information.
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