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Omnibus Pension Bill Passes House

Omnibus Pension Bill Passes House The 2018 Omnibus Pension Bill (S.F. 2620) passed the House of Representatives unanimously on the final day of the legislative session. Following passage in the House, the Senate concurred with some changes made to the bill affecting volunteer firefighters. The bill is now headed to the Governor Dayton’s desk where he is expected to sign S.F. 2620 into law. Once signed, S.F. 2620 will become the largest pension reform legislation in the history of...

Pension Bill Continues to Move Through Legislature

The 2018 pension bill (S.F. 2026) had its first hearing in a House committee on Monday, May 7. The House Government Operations Committee unanimously passed the pension bill, without amendment, on to the next committee. The hearing comes six weeks after the Senate passed the bill unanimously. Legislators in the House have until May 20 to take final action on the bill. For more information about the bill see the Omnibus Pension Bill Summary   For more information on...

Star Trib Editorial: House Should OK Pension Bill

On March 26, the Senate approved the 2018 pension bill. It now awaits House action. Read this  Minneapolis Star Tribune editorial outlining reasons the House should act on this clean pension bill.

2018 Omnibus Retirement Bill Update

The Legislative Commission on Pensions and Retirement (LCPR) has completed its work on the 2018 Omnibus Retirement Bill S.F.2620 / H.F.3053 . The Minnesota House and Senate versions of the bill are now working their way through the legislature.   For updates on the status of the two bills, visit the LCPR webpage . The bill is similar to the provisions that passed during the 2017 Session but was ultimately vetoed. Omnibus Retirement Bill Provisions by Plan ...

2018 MSRS Board Election Results

Results are in for the MSRS Board of Directors election. Congratulations to Chet Jorgenson and Jacqueline Terry, who will represent the General and Unclassified Retirement Plans; and Mike LeDoux, who will represent the State Patrol Retirement Plan. The Board will officially approve the election results at its March 22 meeting. These four-year-term positions will begin on May 7, 2018. The next MSRS Board election will be held in 2020 to...

MSRS Office Closed Mon, Feb. 19

In observance of Presidents Day, all MSRS offices will be closed on Monday, February 19, 2018. The financial markets are also closed that day; therefore, any investment transactions processed after 3 p.m. on Friday, February 16, will have an effective date of Tuesday, February 20, 2018. MSRS will resume normal business hours on Tuesday, February 20, 2018.  

MSRS Board Election - Voting Has Ended

Three MSRS Board of Directors positions are currently open: two for the General and Unclassified Retirement Plans; one for the State Patrol Retirement Plan. If you are an active or deferred member of the General, Unclassified, or State Patrol Retirement Plan, you should have received a ballot in the mail. You may vote by paper ballot or on online. A secure and confidential website has been set up through Survey and Ballot Systems (SBS). The election materials will...

MSRS Office Closed MLK Day

In observance of Martin Luther King, Jr Day, all MSRS offices will be closed on Monday, January 15, 2018. The financial markets are also closed that day. Therefore, any investment transactions processed after 3 p.m. on Friday, January 12, will have an effective date of Tuesday, January 16, 2018. MSRS will resume normal business hours on Tuesday, January 16, 2018.  

Tax Statements Mailed by January 31

MSRS Pension Plans : MSRS will mail you a Form 1099-R to report payments you received from your pension plan. The statement will be available online.   Defined Contribution Plans - MNDCP, HCSP (beneficiary), Unclassified Retirement Plan, Hennepin County 1% Supplemental Plan: Great-West Retirement Services will report distributions. MNDCP participants and HCSP beneficiaries will receive a  Form 1099 .  ...

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...

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