Contribution limits

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. 

Annual Maximum Contribution Limits

Participant Age 2020 & 2021
Under Age 50 $19,500
Age 50 & Over $26,000
Catch-Up Provision $39,000

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:

  1. Select Other Payroll

  2. Select Savings Plans on the next screen

  3. Select Input Deferred Cmp/TSA Deductn  

  4. 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 or % or both

  5. 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
     Note: If you have multiple defined contribution plans, you must choose MNDCP

  2. Select My Contributions under Paycheck Contributions  

Hennepin County Employees

Login to APEX and follow these instructions:

  1. Select Deferred Compensation under benefits

  2. Select Enroll/Change Deferred Comp