On March 27, President Trump signed into law the Coronavirus Aid, Relief and Economic Security Act (CARES Act). The bill includes direct appropriations and temporary rule changes to stimulate the US economy and provide relief for people affected by COVID-19.

Several provisions of the CARES Act directly affect MNDCP & HCSP participants.

  1. Required minimum distributions (RMDs) from your MNDCP account will be waived for calendar year 2020.
    To learn more, see CARES Act: How it Affects 2020 RMDs.
     
  2. Effective Jan 1, 2020, over-the-counter-drugs (OTC) may be reimbursed by the HCSP with proof of purchase. A physician's prescription is no longer required for eligible OTC drugs.
     
  3. Coronavirus-related MNDCP in-service withdrawals.
    Important! This optional provision has not yet been approved by the MSRS Board of Directors. More information will be available on this website if this provision is approved by the Board. Employees who still work for a Minnesota public employer may be eligible to request an emergency withdrawal from the MNDCP due to lost wages related to COVID-19. Contact MSRS for more details.