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Minnesota State University, Mankato

Minnesota State University, Mankato

Retirement Plans

Page address: http://www.mnsu.edu/hr/benefits/retirement/index.php?id=administrators_ret

To view the available retirement plans, click the applicable contract from the list on the left.

Administrator Plans

** Only employees with prior state employment may elect MSRS as their mandatory retirement plan. All others are required to participate in the Individual Retirement Account Plan (IRAP).

IRAP/401(a) - Individual Retirement Account Plan (Click for web site)
Plan Administrator: TIAA-CREF (Click for web site)
Plan Type: Defined Contribution
Participation: Mandatory **
Contribution Amount: Employee = 4.5% Employer = 6.0%
MSRS - Unclassified Plan (Click for web site)
Plan Administrator: MN State Retirement System
Plan Type: Defined Benefit
Participation: Mandatory **
Contribution Amount: Employee = 5.0% Employer = 6.0%
Supplemental Retirement Plan 401(a) - SRP (Click for web site)
Plan Administrator: TIAA-CREF (Click for web site)
Plan Type: Defined Contribution
Participation: Mandatory *
Contribution Amount: Employee contribution = 5% on gross salary in excess of $6,000 but limited to maximum set by personnel plan (currently $2,700). Employer's contribution = 100% of Employee contribution.
* Mandatory after 2 fiscal years of full time employment
Deferred Compensation Plan 457(b) - MNDCP (Click for web site)
Plan Administrator: MN State Retirement System
Participation: Voluntary
Contribution Amount: Minimum $10 up to 100% of taxable income not to exceed $17,500; $23,000 for age 50+
Eligible for Voluntary State Matching: No
Leave Conversion: * May convert up to 5 days of vacation (1 day of vacation for each 3 days used in previous fiscal year) once per fiscal year to either Deferred Compensation or Tax Sheltered Annuity.

Changing Contributions (Instructions for adding, changing, or stopping contributions to your Deferred Compensation (457) Plan in Self Service.)

* May be limited to fiscal years covered by personnel plan.
Tax Sheltered Annuity 403(b) - (TSA) (Click for web site)
Plan Administrator: TIAA-CREF (click for web site)
Participation: Voluntary
Contribution Amount: Up to 100% of taxable income not to exceed $17,500 per calendar year; $23,000 for age 50+
Eligible for Voluntary State Matching: No
Leave Conversion: * May convert up to 5 days of vacation (1 day of vacation for each 3 days used in previous fiscal year) once per fiscal year to either Deferred Compensation or Tax Sheltered Annuity.

Changing Contributions (Instructions for adding, changing, or stopping contributions to your Tax-Sheltered Annuity (403b) in Self Service.)

* May be limited to fiscal years covered by personnel plan.

NOTE: The data provided in these pages is for informational purposes only and is subject to change.