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  Last Updated: 01/23/2012
 
   HCSP Contributions
 

There are a number of different options that may be implemented by employers based on the agreement reached with the bargaining units or employees. Contributions may be derived from a number of sources as determined by the agreement.

The following are examples:

  • Employer elects to apply a specific dollar amount into employee accounts.
  • It may be mandatory for an employee to contribute a percentage of salary increases directly into the fund.
  • The employer can make contributions in addition to the salary and other benefits provided to the employees.
  • The employer can elect to pay unused vacation and/or sick leave as severance pay at the time an employee terminates employment.

Since amounts to be put into this account are negotiated and agreed upon by your bargaining unit or employer, you are not able to add any additional money to the account.

Any questions regarding contribution amounts or participation should be directed to your bargaining unit or employer.

 

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Minnesota State Retirement System
60 Empire Drive, Suite 300, St. Paul, MN 55103-3000
Telephone: (651) 296-2761, Toll Free: (800) 657-5757, Fax: (651) 297-5238
E-Mail: info@msrs.us
Please do not include confidential information, such as social security numbers, in email
correspondence with MSRS.
An Equal Opportunity Employer
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