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MSRS Offices Closed Friday, Nov 10

In observance of Veterans Day, MSRS offices will be closed on Friday, November 10. Veterans Day is not a New York Stock Exchange (NYSE) holiday; therefore, MSRS representative will be available to answer your calls during regular business hours, 8 a.m. - 4:30 p.m. Investment transactions requested before 3 p.m. by phone or on our website will be processed, as usual. 

2018 MNDCP Contribution Limits Announced

(MNDCP)  The Internal Revenue Service (IRS) announced new contributions limits for 457(b), 401(k), and 403(b) retirement plans for calendar year 2018. 2018 MNDCP Annual Maximum Contribution Limits Participant Age Maximum Limit Under Age 50 $18,500 Age 50 & Over $24,500 Catch-Up...

Pension Benefit Increase, January 2018

Effective January 1, 2018, eligible MSRS retirees and other benefit recipients will receive a 2% post-retirement pension benefit increase. Exceptions : Retirees covered under the State Patrol Retirement Plan will receive a 1% increase. Retired judges will receive a 1.75% increase. You will receive a letter from MSRS in December confirming your 2018 benefit amount. Be sure to notify us if your address has changed to ensure the letter reaches you. The post-retirement...

Deadline to Apply to Serve on Board: Friday, 9/29

MSRS is currently seeking candidates to fill three upcoming vacancies on the Board of Directors: State Patrol Retirement Plan (1 position) General Employees Retirement Plan and Unclassified Retirement Plan (2 positions) The deadline to apply is Friday, September 29, 2017 . The election will be held February 2018. Positions are 4-year terms and take effect Monday, May 7, 2018. To learn more, including the qualifications and how to apply, see MSRS Board...

Website Availability 9/22 - 9/23

Due to scheduled system maintenance, the MSRS website will not be available starting Friday, September 22 at 6:30 p.m. CST . This outage could last up to 36 hours; however, it is possible services may be restored as soon as 24 hours.   During the outage, you will not be able to access the MSRS website or log into your account online. Please accept our apology for any inconvenience this may cause.

MSRS Response to Bloomberg News Article

An article published by Bloomberg News ( “New Math Deals Minnesota’s Pensions the Biggest Hit in the U.S.,” Aug. 31, 2017),  uses numbers reported under the Governmental Accounting Standards Board (GASB) rules to paint an incomplete and misleading picture of the financial health of Minnesota’s public pension plans. The key point to understand about numbers reported under GASB rules is that the true health of a pension plan is determined not by GASB annual accounting rules but by...

Account Login Process Change

Effective July 21, 2017, changes were made to the login process designed to make the user experience simple and more secure.  Go to Ready.Set.Login  for more detailed login instructions.    

Attention Correctional Plan Members: Board Vacancy

Currently, there is a vacancy on the MSRS Board of Directors for a representative of the Correctional Retirement Plan. This vacancy is due to the resignation of the current incumbent. MSRS law and Board policy allows the Board to appoint a replacement to complete the term, which ends May 2020. To apply, you must be an active member of the Correctional Plan and submit ten signatures of other active members in that plan nominating you for the position, along...

Governor Vetoes Bill Containing 2017 Pension Reforms

Governor Mark Dayton vetoed special session S.F. 3 on Tuesday, May 30, 2017. This bill contained the contents of the 2017 Omnibus Retirement Bill  passed by the Legislative Commission on Pensions and Retirement (LCPR) and the Minnesota Senate during regular session (S.F. 545) The Governor vetoed the bill due to provisions related to labor standards that would have preempted local governments’ ability to set wage and benefit levels higher than state law. Most notably for MSRS,...

2017 Omnibus Retirement Bill Update

The Legislative Commission on Pensions and Retirement (LCPR) has completed work on the 2017 Omnibus Retirement Bill. The Minnesota House and Senate versions of the bill are now working their way through the legislature.   S.F.545 / H.F. 565   For updates on the status of the two bills, visit the LCPR’s webpage . The language in the bill is similar to the MSRS Board’s proposal for the Correctional and State Patrol Retirement Plans. The LCPR voted to...

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