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
House Passes Omnibus Pension Bill
The House of Representatives passed the Omnibus Pension Bill April 10. Part of
the bill calls for contribution rate increases for two retirement plans - the
General Employees and the Correctional Employees. The Senate Finance Committee will
likely consider the bill the week of April 21.
MSRS 2014 Board of Election Results
The results of the MSRS' Board of Directors election were tallied on March 20, 2014.
was elected and Chet Jorgenson
was re-elected for the General and Unclassified Plans positions, and
was re-elected to the State Patrol Plan position.
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.
2014 MSRS Seminar Dates Announced
For more information, click on the following.
Plan rule changes affect eligibility to access HCSP account
The Affordable Care Act (ACA) prohibits insurance plans from applying lifetime and annual dollar limits on essential health benefits. The HCSP is exempt from the ban on applying limits on coverage because reimbursements are only available after termination from service. To maintain the Plan's post-termination status, Plan rules regarding eligibility to request reimbursements will be modified effective January 1, 2014.
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.
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