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 = 6.5% Employer = 6.5% (Effective July, 2013: Employee = 7% Employer = 7%)

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.