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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=ifo_ret

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

IFO Plans

** Employee elects either IRAP or TRA. (See Instructions & Explanation)

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%
MN Teachers Retirement Association - TRA (Click for web site)
Plan Administrator: Teachers Retirement Association
Plan Type: Defined Benefit
Participation: Mandatory **
Contribution Amount: Employee = 7% Employer = 7%
(Effective July, 2014: Employee = 7.5% Employer = 7.5%)
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 bargaining agreement (currently $2,250 per fiscal year). Employer's contribution = 100% of Employee contribution.
* Mandatory after 2 fiscal years of full time employment
Deferred Compensation Plan 457 - MNDCP (Click for web site)
Plan Administrator: MN State Retirement System
Participation: Voluntary
Contribution Amount: $10 minimum up to 100% of taxable income not to exceed $17,500; $23,000 for age 50+
Eligible for Voluntary State Matching: No
Leave Conversion: No

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

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: No

Changing Contributions (Instructions For Changing Contributions to your Tax-Sheltered Annuity (403b) in Self Service.)

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