You may contribute as little as $10 per paycheck up to 100% of your includible compensation or the yearly maximum contribution limit set by the IRS, whichever is less.
The Catch-Up Provision may allow you to contribute up to twice the standard contribution limit if you are within three years of your normal retirement age (the age at which you are eligible for an unreduced pension benefit).
For more information or to apply for the Catch-Up Provision, Contact Us.
The maximum annual contribution limits for 2021 did not change from the 2020 limits.
|Participant Age||2020 & 2021|
|Under Age 50||$19,500|
|Age 50 & Over||$26,000|
Note: If you contribute both pre-tax and Roth after-tax dollars, your combined contributions cannot exceed the Annual Maximum Contribution Limits. The limit also includes any employer matching contributions to your account.
How to change your contribution amount
If you need help, contact an MSRS Representative at 800-657-5757, option 3
State of Minnesota Employees
Login to the State employee self-service website and follow these instructions:
Non State of Minnesota Public Employees
Login to your account online and follow these instructions:
Hennepin County Employees
Login to APEX and follow these instructions:
Select Deferred Compensation under benefits
Select Enroll/Change Deferred Comp