Eligible MSRS pension benefit recipients will receive an annual benefit increase in January 2024. Annual benefit increases are determined by Minnesota statute.
The increase is prorated the first year after retirement and is based on the number of full months a retiree was retired during the previous fiscal year. After the initial prorated increase, all future increases will be the full benefit amount.
| Retirement Plan | 2024 Increase |
|
General Employees Retirement Plan * |
1.5% |
| State Patrol Retirement Plan | 1.0% |
* Includes Military Affairs, Transportation Pilots and State Fire Marshals Retirement Plans
Communicating the increase
Pension benefit recipients eligible for the increase will receive a letter in December to confirm the 2024 gross payment amount, tax withholding, and net payment amount. A copy of the letter will be available in the online file cabinet in early December. Follow these instructions to view and download your letter:
- Login to your account online. Note: If you do not have login credentials, select the New User/Need Help link in Login box.
- Go to My Documents on the top navigation bar.
- Select File Cabinet under Pension.
- Your post-retirement increase letter will appear under Correspondence.