What contribution methods are permitted for the random selection?

Selected savers will have two options for making contributions via bank withdrawals: one-time withdrawal or automatic withdrawals.

One-time withdrawal

A lump-sum payment can be made at any time between June 1, 2024, and May 31, 2025.

Example: A saver contributes $5,000 on November 17, 2024.

Automatic withdrawals

Weekly, bi-weekly, or monthly withdrawals can be made between June 1, 2024, and May 31, 2025, at the saver's discretion.

Example: A saver divides his $5,000 contribution into monthly withdrawals starting September 1, 2024, and ending February 1, 2025.