MN State Retirement System (MSRS)

The MN State Retirement System, administer ten different retirement plans which provide retirement, survivor, and disability benefit coverage for Minnesota state employees as well as employees of the Metropolitan Council and many non-faculty employees at the University of Minnesota. MSRS covers over 50,000 active employees and currently pays monthly benefits to over 20,000 retirees, survivors, and disabled employees. In addition, they also administer the State of Minnesota Deferred Compensation Plan and the Health Care Savings Plan.

General Retirement Plan

The General Employees Retirement Plan (General Plan) is the largest retirement plan administered by MSRS. It covers most state employees, civil service employees of the University of Minnesota, and employees of the Metropolitan Council. Judges, public safety personnel, employees responsible for inmate care, elected officials, and certain unclassified state employees are covered by other plans administered by MSRS.
Unclassified Retirement Plan

The Unclassified Employees Retirement Plan is a tax-deferred, defined contribution retirement plan. A defined contribution plan is a type of retirement plan that bases retirement benefits on the amounts contributed to the account by the employer and the employee, plus any investment earnings on the money in the account. When you withdraw the funds, both contributions and earnings are taxable.
Deferred Compensation Plan

The Minnesota Deferred Compensation Plan (MNDCP) is a voluntary savings plan intended for long-term investing for retirement. Authorized under Section 457 of the Internal Revenue Code, the MNDCP is a smart and easy way to supplement retirement income from your Minnesota public pension and Social Security benefits.

Available to any full-time, part-time, or temporary Minnesota public employee (state, city, county, township, school districts, etc.), the MNDCP allows you to build retirement savings through automatic payroll deductions -- you control how your money is invested.

You are eligible to withdraw savings from your MNDCP account upon retirement, termination of employment or disability. Upon your death, your designated beneficiary(ies) can withdraw funds.

For more information; go to MSRS - MNDCP.
Health Care Savings Plan (HSCP)