Requesting a pension benefit estimate

An estimate gives you a general idea of your retirement benefit amount. The actual monthly payment amount will not be known until after you retire.

There are two ways to request a pension estimate: online or by calling MSRS.

In addition, MSRS will send you a pension annual statement that includes benefit estimates (if you are vested).


Why an estimate may differ from the final benefit payment amount

There are several reasons why the final benefit payment amount may differ from the estimated amount you were quoted before retirement, including:

  • Your earnings may increase or decrease in the future.

  • Laws governing retirement benefits may change and could affect your benefit amount. Estimates are based on current state law.

  • Your employment status could change (for example, going from full-time to part-time employment or taking a leave of absence).  Estimates are based on your current work pattern. 

 

Annual statements may include retirement benefit estimates

MSRS will send you an annual statement near your birthday. If you are vested -- meaning you have enough service to qualify for a retirement benefit -- the statement includes estimates of your future retirement benefit at pre-determined dates (typically age 55, 62, 66, etc).

The estimates may not include time covered under another Minnesota retirement plan (TRA or PERA).

Your estimated retirement benefit is based on our records and information received from your employer. It is important that you review your statements carefully and notify us of any errors.

 

Two ways to request a pension estimate

CALL MSRS at 651-296-2761 or 1-800-657-5757
As you near retirement, we recommend  that you call MSRS to request an estimate. When you call, be prepared to provide the following information so we can run an accurate estimate for you:

  • Your planned retirement date
  • Your survivor's name, date of birth, and relationship to you
  • Coverage under any other Minnesota retirement plan (TRA or PERA)

Estimates run by a staff member:

  • may be"audited," meaning they are reviewed by MSRS staff for accuracy.
  • may take several weeks to complete due to the time it takes to audit.
  • may give you a better idea of your benefit amount (although the actual amount will not be known until after you retire).

LOGIN TO YOUR MSRS PENSION PLAN
You can obtain an estimate of your monthly benefit amount online at anytime based on the retirement date of your choice.

Online estimates:                         

  • allow you the freedom to try several different scenerios (e.g., different  retirement dates or benefit options),

  • are quick (get results immediately). 

  • give you a general idea of your benefit amount (contact MSRS to run a more accurate estimate).

  • are "unaudited," meaning they are not reviewed by MSRS staff for accuracy.

  • may not include time covered under another retirement plan (TRA or PERA).