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Retirement Benefits When you qualify, you could receive monthly retirement benefits payable for life. Unless you are a member of the Unclassified Plan, your monthly benefits are based on your length of service, high-five average salary, and your age at retirement. The longer you work, the higher your high-five average salary, and the older you are when you start receiving benefits, the higher the amount you will receive. If you are a member of the Unclassified Plan, your monthly benefits are based on the amount contributed to the plan, any investment gains or losses, and your age when your monthly benefit begins. Disability Benefits If you become totally and permanently disabled and have at least three years of service, you may be eligible for monthly disability benefits which would be payable for life or until you are no longer disabled. The Correctional and the State Patrol Plans provide disability benefits if you are unable to perform the duties of your job. Under these two plans, you qualify for a job-related disability upon employment and a non-job-related disability if you have one or more years of service. Survivor Benefits If at the time of your death you have three or more years of service, your spouse and/or dependent children may be eligible to receive monthly lifetime survivor benefits. Survivor benefits are available under the State Patrol Plan even if you have fewer than three years of service. Lump-Sum Payment Upon Termination of State Employment If you terminated state service after 5/15/89, but do not wish to collect or are not eligible for monthly benefits, you can take a refund of your employee contributions plus 6 percent interest per year, compounded daily. Under the Unclassified Plan, you are eligible for both the employee and employer contributions, plus or minus investment gains and losses. Annual Benefits Statement You will receive an annual account statement detailing the contributions you have made to MSRS and estimates of the monthly benefits available when you qualify for monthly payments. Please read this statement carefully to better understand the benefits payable under your retirement plan. Retirement Questions Questions about your retirement benefits should be directed to the Minnesota State Retirement System. |
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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