Welcome to the Minnesota State
Retirement System (MSRS) website! We 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, we administer the
State of Minnesota Deferred Compensation Plan and the Health Care
Pension systems reject 'dubious' research by privatization advocate
The retirement systems have issued the following response to a new report from the Center of
the American Experiment,
which was covered by the Star Tribune:
A new report from Kim Crockett at the Center of the American Experiment ("Keeping the
Promise: Securing Retirement Benefits for Current and Future Public Employees") is based on very outdated
numbers on the financial status of the three statewide public retirement funds.
As of June 30, 2014, the assets for the three funds - the Minnesota State Retirement System (MSRS),
Public Employee Retirement Association (PERA), and the Teachers Retirement Association (TRA) - have
grown by $23 billion over the past five years. For the fiscal year that just ended, pension fund assets
posted an 18.6 percent return on investment, far surpassing the 8.5 percent target rate.
Legislature accepts proposal to increase contribution rates
The 2014 Legislature accepted the MSRS Board of Directors proposal to
increase the contribution rates for the state's major retirement plans including
the Unclassified Retirement Plan, General Employees Retirement Plan,and Correctional Retirement Plan.
Read the Messenger
to find out more.
MSRS retirement plan contribution rates to increase
The contribution rates for the state's major retirement plans administered by MSRS will increase
the first full pay period of July 2014.
Governor Signs 2014 Omnibus Retirement Bill
Governor Mark Dayton signed this year's Omnibus Retirement Bill into law on May 21, 2014. The bill contains
several provisions that will impact MSRS.
Early retirement reduction factors to change July 2014
New early retirement factors for members covered by the MSRS General Employees Retirement Plan
will begin July 1, 2014. This change means lower benefits for members who retire before
full retirement age, which is age 66 (or age 65 if hired before July 1, 1989).
To learn more, please review this FAQ
2014 MSRS Seminar Dates Announced
For more information, click on the following.
Funding levels of plans improve; more proactive steps necessary
MSRS' financial position improved during 2013. Investment returns of 14.2 percent gave the retirement
funds MSRS administers a much needed boost in their funding levels. While the financial picture
has improved, the MSRS Board of Directors is committed to reaching full funding of the retirement
plans. To do this, the Board is recommending contribution rate increases for two retirement
plans - the General Employees Retirement Plan and the Correctional Employees Retirement Plan.
The Board realizes that contribution rate increases may not be popular, but are necessary for
the plans to reach full funding.
Are pensions the cause of city fiscal woes? New report says no
The bankruptcy of Detroit has focused attention on the financial outlook for cities and
the role that pensions may play in determining their future. Chicago is frequently cited as the poster child
of a city where substantial pension commitments and lack of funding have led to serious financial problems.