Retirement Plans

Overview

Administrator Retirement Plans

1. Plan Name: IRAP/401(A)- Individual Retirement Account Plan 
   • Plan Administrator: TIAA 
   • Plan Type: Defined Contribution
   • Participation: Mandatory
   • Contribution Details: See Minnesota State Mandatory and Voluntary Retirement Plan Brochure for details. 
2. Plan Name: TRA- Minnesota Teachers Retirement Association 
   • Plan Administrator: TRA 
   • Plan Type: Defined Benefit
   • Participation: Mandatory
   • Contribution Details: See Minnesota State Mandatory and Voluntary Retirement Plan Brochure for details. 
3. Plan Name: SRP/401(A)- Supplemental Retirement Plan 
   • Plan Administrator: TIAA 
   • Plan Type: Defined Contribution
   • Participation: Mandatory*
   • Contribution Details: Employee contributes 5% of gross compensation over $6,000 (max set by bargaining unit). *Mandatory after 2 fiscal years of full-time employment.
4. Plan Name: MNDCP/457(B) Deferred Compensation 
   • Plan Administrator: MSRS 
   • Plan Type: N/A
   • Participation: Voluntary
   • Contribution Details: See Minnesota State Mandatory and Voluntary Retirement Plan Brochure for details. 
   • Additional Notes:
     • No state matching. 
     • Leave Conversion: May convert up to 5 days of vacation (1 day of vacation for each 3 days used in previous fiscal year) once per fiscal year to either Deferred Compensation or Tax Sheltered Annuity.
     • Changing Contributions: (Instructions for adding, changing, or stopping contributions to your Deferred Compensation (457) Plan in Self Service.)
     • May be limited to fiscal years covered by personnel plan.
5. Plan Name: TSA/403(b) Tax-Sheltered Annuity 
   • Plan Administrator: TIAA 
   • Plan Type: N/A
   • Participation:  Voluntary
   • Contribution Details: See Minnesota State Mandatory and Voluntary Retirement Plan Brochure for details. 
   • Additional Notes:
     • No state matching. 
     • Leave Conversion: May convert up to 5 days of vacation (1 day of vacation for each 3 days used in previous fiscal year) once per fiscal year to either Deferred Compensation or Tax Sheltered Annuity. 
     • Changing Contributions: (Instructions for adding, changing, or stopping contributions to your Deferred Compensation (457) Plan in Self Service.) 
     • May be limited to fiscal years covered by personnel plan.

AFSCME Retirement Plans

Non-represented Employees Retirement Plan

Formerly the Commissioner's Plan

1. Plan Name: MSRS – General Plan 
   • Plan Administrator: MSRS 
   • Plan Type: Defined Benefit
   • Participation: Mandatory
   • Contribution Details: See Minnesota State Mandatory and Voluntary Retirement Plan Brochure for details. 
2. Plan Name: Deferred Compensation Plan 457 – MNDCP 
   • Plan Administrator: MSRS 
   • Plan Type: Defined Compensation Plan
   • Participation: Voluntary
   • Contribution Details: See Minnesota State Mandatory and Voluntary Retirement Plan Brochure for details. 
   • Eligible for State Match: See Plan for your fiscal year match.
   • Leave Conversion:
     • Yes. May elect state match or vacation conversion each fiscal year. Vacation Conversion: up to 40 hrs vacation once per fiscal year (1 hr for each 2 hrs used in previous fiscal year). Convert up to 40 hrs comp time once per fiscal year.
     • Changing Contributions: Instructions for adding, modifying, or stopping contributions to your Deferred Compensation (457) Plan in Self Service.)
     • *May be limited to fiscal years specified in the bargaining agreement.
3. Plan Name: Tax Sheltered Annuity 403(b) – TSA 
   • Plan Administrator: TIAA 
   • Plan Type: Tax Sheltered Annuity
   • Participation: Voluntary
   • Contribution Details: See Minnesota State Mandatory and Voluntary Retirement Plan Brochure for details. 
   • Eligible for State Match: No
   • Leave Conversion:
     • No.
     • Changing Contributions: Instructions for adding, modifying, or stopping contributions to your Tax-Sheltered Annuity (403(b)) in Self Service.

IFO Retirement Plans

1. Plan Name: IRAP / 401(a) – Individual Retirement Account Plan 
   • Plan Administrator: TIAA 
   • Plan Type: Defined Contribution
   • Participation: Mandatory
   • Contribution Details: See Minnesota State Mandatory and Voluntary Retirement Plan Brochure for details. 
   • Eligible for State Match: N/A
   • Leave Conversion: N/A
2. Plan Name: MN Teachers Retirement Association – TRA 
   • Plan Administrator: TRA 
   • Plan Type: Defined Benefit
   • Participation: Mandatory
   • Contribution Details: See Minnesota State Mandatory and Voluntary Retirement Plan Brochure for details. 
   • Eligible for State Match: N/A
   • Leave Conversion: N/A
3. Plan Name: Supplemental Retirement Plan 401(a) – SRP 
   • Plan Administrator: TIAA 
   • Plan Type: Defined Contribution
   • Participation: Mandatory*
   • Contribution Details: Employee contribution = 5% on gross compensation over $6,000, limited to maximum set by bargaining unit. See bargaining unit for details. Mandatory after 2 fiscal years of full-time employment  
   • Eligible for State Match: N/A
   • Leave Conversion: N/A
4. Plan Name: Deferred Compensation Plan 457(b) – MNDCP 
   • Plan Administrator: MSRS 
   • Plan Type: N/A
   • Participation: Voluntary
   • Contribution Details: See Minnesota State Mandatory and Voluntary Retirement Plan Brochure for details. May be limited to fiscal years covered by plan.
   • Eligible for State Match: No
   • Leave Conversion: No
5. Plan Name: Tax-Sheltered Annuity 403(b) – TSA 
   • Plan Administrator: TIAA 
   • Plan Type: N/A
   • Participation: Voluntary
   • Contribution Details: See Minnesota State Mandatory and Voluntary Retirement Plan Brochure for details. May be limited to fiscal years covered by plan.
   • Eligible for State Match: No
   • Leave Conversion: No

Managerial Plan Retirement Plans

1. Plan Name: MSRS – General Plan 
   1. Administrator: MSRS 
   2. Plan Type: Defined Benefit
   3. Participation: Mandatory
   4. Contribution: See Minnesota State Mandatory and Voluntary Retirement Plan Brochure for details. 
   5. State Match: N/A
   6. Leave Conversion: N/A
2. Plan Name: Deferred Compensation Plan 457 – MNDCP 
   1. Administrator: MSRS 
   2. Plan Type: N/A
   3. Participation: Voluntary
   4. Contribution: See Minnesota State Mandatory and Voluntary Retirement Plan Brochure for details. 
   5. State Match: See Plan for fiscal year match 
   6. Leave Conversion:
      1. Yes – May elect either state match or vacation conversion each fiscal year. Vacation Conversion: up to 50 hours vacation once per fiscal year (1 hour for each 2 hours used in previous fiscal year). 
      2. May be limited to fiscal years covered by bargaining agreement; changes made in Self Service*
3. Plan Name: Tax-Sheltered Annuity 403(b) – TSA 
   1. Plan Administrator: TIAA
   2. Plan Type: N/A
   3. Participation: Voluntary
   4. Contribution: See Minnesota State Mandatory and Voluntary Retirement Plan Brochure for details. 
   5. State Match: No
   6. Leave Conversion: No

MAPE Retirement Plans

1. Plan Name: MSRS – General Plan
   • Plan Administrator: MSRS 
   • Plan Type: Defined Benefit
   • Participation: Mandatory
   • Contribution Amount: See Minnesota State Mandatory and Voluntary Retirement Plan Brochure for details. 
   • Eligible for State Match: N/A
   • Leave Conversion: N/A
2. Plan Name: Deferred Compensation Plan 457 – MNDCP 
   • Plan Administrator: MSRS 
   • Plan Type: N/A
   • Participation: Voluntary
   • Contribution Amount: See Minnesota State Mandatory and Voluntary Retirement Plan Brochure for details. 
   • Eligible for State Match: Yes — see bargaining agreement for fiscal year match
   • Leave Conversion: Yes, may convert up to 40 hours comp time once per fiscal year
3. Plan Name: Tax-Sheltered Annuity 403(b) – TSA 
   • Plan Administrator: TIAA 
   • Plan Type: N/A
   • Participation: Voluntary
   • Contribution Amount: See Minnesota State Mandatory and Voluntary Retirement Plan Brochure for details. 
   • Eligible for State Match: No
   • Leave Conversion: No

MGEC Retirement Plans

1. Plan Name: MSRS – General Plan 
   • Plan Administrator: MSRS 
   • Plan Type: Defined Benefit
   • Participation: Mandatory
   • Contribution Amount: See Minnesota State Mandatory and Voluntary Retirement Plan Brochure for details. 
   • State Match: N/A
   • Leave Conversion: N/A
2. Plan Name: Deferred Compensation Plan 457 – MNDCP 
   • Plan Administrator: MSRS 
   • Plan Type: N/A
   • Participation: Voluntary
   • Contribution Amount: See Minnesota State Mandatory and Voluntary Retirement Plan Brochure for details. 
   • State Match: See bargaining agreement for fiscal year match.
   • Leave Conversion: Yes, may convert up to 40 hours comp time once per fiscal year. May be limited to fiscal years covered by bargaining agreement
3. Plan Name: Tax-Sheltered Annuity 403(b) – TSA 
   • Plan Administrator: TIAA 
   • Plan Type: N/A
   • Participation: Voluntary
   • Contribution Amount: See Minnesota State Mandatory and Voluntary Retirement Plan Brochure for details. 
   • State Match: No
   • Leave Conversion: No

MMA Retirement Plans

1. Plan Name: MSRS – General Plan 
   • Plan Administrator: MSRS 
   • Plan Type: Defined Benefit
   • Participation: Mandatory
   • Contribution Amount: See Minnesota State Mandatory and Voluntary Retirement Plan Brochure for details. 
   • State Match: N/A
   • Leave Conversion: N/A
2. Plan Name: Deferred Compensation Plan 457 – MNDCP 
   • Plan Administrator: MSRS 
   • Plan Type: N/A
   • Participation: Voluntary
   • Contribution Amount: See Minnesota State Mandatory and Voluntary Retirement Plan Brochure for details. 
   • State Match: Yes, see bargaining agreement
   • Leave Conversion: Only employees at top step of salary grid may elect to convert up to 40 hours of vacation (1 hour for each 3 hours used in previous fiscal year). All employees may convert up to 40 hours comp time once per fiscal year. 
3. Plan Name: Tax-Sheltered Annuity 403(b) – TSA 
   • Plan Administrator: TIAA 
   • Plan Type: N/A
   • Participation: Voluntary
   • Contribution Amount: See Minnesota State Mandatory and Voluntary Retirement Plan Brochure for details. 
   • State Match: No
   • Leave Conversion: No

MNA Retirement Plans

1. Plan Name: MSRS – General Plan 
   • Plan Administrator: MSRS 
   • Plan Type: Defined Benefit
   • Participation: Mandatory
   • Contribution Amount: See Minnesota State Mandatory and Voluntary Retirement Plan Brochure for details. 
   • State Match: N/A
   • Leave Conversion: N/A
2. Plan Name: Deferred Compensation Plan 457 – MNDCP 
   • Plan Administrator: MSRS 
   • Plan Type: N/A
   • Participation: Voluntary
   • Contribution Amount: See Minnesota State Mandatory and Voluntary Retirement Plan Brochure for details. 
   • State Match: Yes — see bargaining agreement
   • Leave Conversion: May convert up to 40 hours comp time once per fiscal year
3. Plan Name: Tax-Sheltered Annuity 403(b) – TSA 
   • Plan Administrator: TIAA 
   • Plan Type: N/A
   • Participation: Voluntary
   • Contribution Amount: See Minnesota State Mandatory and Voluntary Retirement Plan Brochure for details. 
   • State Match: No
   • Leave Conversion: No

MSUAASF Retirement Plans

1. Plan Name: IRAP / 401(a) – Individual Retirement Account Plan 
   • Plan Administrator: TIAA 
   • Plan Type: Defined Contribution
   • Participation: Mandatory**
   • Contribution Amount: See Minnesota State Mandatory and Voluntary Retirement Plan Brochure for details. 
   • Notes: **Employee elects IRAP or TRA
2. Plan Name: MN Teachers Retirement Association – TRA 
   • Plan Administrator: TRA 
   • Plan Type: Defined Benefit
   • Participation: Mandatory**
   • Contribution Amount: See Minnesota State Mandatory and Voluntary Retirement Plan Brochure for details. 
   • Notes: **Employee elects IRAP or TRA
3. Plan Name: Supplemental Retirement Plan 401(a) – SRP 
   • Plan Administrator: TIAA 
   • Plan Type: Defined Contribution
   • Participation: Mandatory
   • Contribution Amount: Employee contribution is 5% on gross compensation over $6,000
   • Notes: Max determined by bargaining unit
4. Plan Name: Deferred Compensation Plan 457(b) – MNDCP 
   • Plan Administrator: MSRS 
   • Plan Type: N/A
   • Participation: Voluntary
   • Contribution Amount: See Minnesota State Mandatory and Voluntary Retirement Plan Brochure for details. 
   • Notes:
     • No state matching; no leave conversion; changes made in Self Service
     • May be limited to fiscal years covered by personnel plan.
5. Plan Name: Tax Sheltered Annuity 403(b) – TSA 
   • Plan Administrator: TIAA 
   • Plan Type: N/A
   • Participation: Voluntary
   • Contribution Amount: See Minnesota State Mandatory and Voluntary Retirement Plan Brochure for details. 
   • Notes:
     • No state matching; no leave conversion; enrollment via TSA process; changes via Self Service
     • May be limited to fiscal years covered by personnel plan.

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