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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 .  ...

MSRS Offices Closed Mon, Nov 12

In observance of Veterans Day, MSRS offices will be closed on Monday, Nov. 12.   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. 

2019 MNDCP Contribution Limits

(MNDCP)  The Internal Revenue Service (IRS) announced new contributions limits for 457(b), 401(k), and 403(b) retirement plans for calendar year 2019. 2019 MNDCP Annual Maximum Contribution Limits Participant Age Maximum Limit Under Age 50 $19,000 Age 50 & Over $25,000 Catch-Up...

2019 Post-Retirement Benefit Increase

Effective January 1, 2019, eligible MSRS retirees and other benefit recipients will receive a 1% post-retirement pension benefit increase. Exceptions : Retirees covered under the Correctional Retirement Plan will receive a 1.5% increase. Retired judges will receive a 1.75% increase. The post-retirement benefit increase is established in Minnesota law and occurs each January. The increase is prorated the first year after retirement and is based on the number of full months...

Website to Get New Look

MSRS is redesigning our website to feature a more modern look, user-friendly navigation and expanded participant information. The changes will be completed in two phases. Phase 1 : Redesign the MNDCP, HCSP, and Unclassified Retirement Plan account online website. To accomodate this change, you will not be able to log into your online account starting at 3 p.m. CT on Wednesday, June 20; the outage will last approximately 12 hours. Check out the redesigned site starting on...

Governor Signs 2018 Pension Bill

Gov. Mark Dayton signed the 2018 Omnibus Retirement Bill into law on Thursday, May 31. “That’s the last bill I’ll sign as governor of Minnesota and what a great way to end on,” Dayton said at signing ceremony, which was attended by many Minnesota public employees and stakeholders. The bipartisan legislation (H.F. 3053/S.F. 2620) includes sustainability measures for all four of the state’s public pension systems, including Minnesota State Retirement System (MSRS), Teachers Retirement...

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...

Economic Impact of Minnesota Pensions

The Retirement Systems of Minnesota provide secure retirement benefits to more than  173,000 Minnesotans, totaling $4.1 billion. Click the map below to see where retirees live around the state.  

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.

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