three fish jumping into fish bowls with text that reads take a big jump towards your retirement goals

Small steps can make a BIG difference!

Consider increasing the amount you contribute to your MNDCP each time you get a raise. While it may be tempting to spend the extra cash, contributing $25 more a paycheck has the potential to make a BIG difference in your retirement savings.

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How to change your contribution amount

State of Minnesota Employees

Login to the State employee self-service website and follow these instructions:

  1. Select Self Service
  2. Select the Benefits tile
  3. Select the Deferred Compensation tile
  4. Select Input Deferred Cmp/TSA Deductn  
  5. Select Add Savings Plan and enter a dollar amount or % of gross into the Before-Tax and/or After-Tax (ROTH) box
    Note:  You may enter a dollar amount and/or % into both boxes
  6. Select Save and then select OK to exit  
     

Non State of Minnesota Public Employees

Login to your account online and follow these instructions:

  1.  Select Go to Savings Plans from the top navigation menu
     Note: If you have multiple defined contribution plans, you must choose MNDCP
  2.  Select My Contributions under Paycheck Contributions in the left navigation menu
     

Hennepin County Employees 

Login to APEX and follow these instructions:

  1. Under Benefits, select Deferred Compensation
  2. Select Enroll/Change Deferred Comp

 

If you prefer to call to change your contribution amount, contact MSRS at 800.657.5757

 

 

For illustrative purposes only. The hypothetical example assumes bi-weekly contributions (26 pay periods per year) and 6% average annual return, compounded monthly. Not intended to depict the performance of any investment. Actual rates of return may be more or less than shown and will depend on a number of different factors, including your choice of investment options. 

Securities offered by GWFS Equities, Inc., Member FINRA/SIPC. This material has been prepared for informational and educational purposes only and is not intended to provide investment, legal or tax advice. Investing involves risk, including possible loss of principal.