Our mission: We empower Minnesota public employees to build a strong foundation for retirement
Who we are
Minnesota State Retirement System (MSRS) was established by the Legislature in 1929. We administer retirement plans that provide retirement, survivor, and disability benefit coverage for Minnesota state employees, the Metropolitan Council, and many non-faculty employees at the University of Minnesota and Minnesota State university system.
MSRS covers over 56,000 active employees and currently pays monthly benefits to over 44,000 retirees and survivors.
How we work
Our staff strives to provide excellent customer service to help Minnesota public employees save and prepare for retirement. We have offices throughout the State of Minnesota including St Paul, Duluth, Detroit Lakes, Mankato, and St Cloud.
MSRS is governed by an 11-member Board of Directors that has a fiduciary responsibility to the participants and beneficiaries of all MSRS plans, the taxpayers and the State of Minnesota.
The Minnesota State Board of Investment (SBI) is responsible for selecting the investments for the pension plan assets.They continually evaluate the performance of the investment managers.
About our plans
Defined Benefit Pension Plans
MSRS serves over 130,000 active, deferred and retired Minnesota public employees who are covered under these pension plans:
Defined Contribution Plans
Minnesota Deferred Compensation Plan (MNDCP). A voluntary 457(b) retirement savings plan available to all Minnesota public employees. Participants can choose from pre-tax or Roth after-tax savings.
Health Care Savings Plan (HCSP). A tax-free medical savings plan. Reimburses post-employment out-of-pocket medical expenses incurred by you, your spouse, legal tax dependents, and adult children up to their 26th birthday. Participation is mandatory if adopted by the employer.
Unclassified Retirement Plan. A 401(a) defined contribution plan for elected officials, department heads, commissioners and legislative staff. Participation is mandatory depending on position.