Commissioner's Plan Retirement Plans
A summary of the available Commissioner's Plan Retirement Plans
MSRS - General Plan |
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| Plan Administrator | MN State Retirement System |
| Plan Type | Defined Benefit |
| Participation | Mandatory |
| Contribution Amount |
Employee = 6.0 % Employer = 6.0% |
Deferred Compensation Plan 457 - MNDCP |
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| Plan Administrator | MN State Retirement System |
| Participation | Voluntary |
| Contribution Amount |
$10 minimum up to 100% of taxable income not to exceed $19,500; $26,000 for age 50+ |
| Eligible for Voluntary State Matching |
* Yes up to $300 per fiscal year or vacation conversion after six months in Commissioner's Plan |
| Leave Conversion | * Yes. May elect either state match or vacation conversion each fiscal year. Vacation Conversion: up to 40 hours vacation once per fiscal year (1 hour for each 2 hours used in previous fiscal year). Convert up to 40 hours comp time once per fiscal year. |
| * May be limited to fiscal years covered by bargaining agreement. | |
| Changing Contributions (Instructions for adding, changing, or stopping contributions to your Deferred Compensation (457) Plan in Self Service.) | |
Tax Sheltered Annuity 403(b) - (TSA) |
|
| Plan Administrator | TIAA |
| Participation | Voluntary |
| Contribution Amount | Up to 100% of taxable income not to exceed $19,500 per calendar year; $26,000 for age 50+ |
| Eligible for Voluntary State Matching | No |
| Leave Conversion | No |
| Changing Contributions (Instructions for adding, changing, or stopping contributions to your Tax-Sheltered Annuity (403b) in Self Service.) How to Enroll in TSA |
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For more specific informaiton, forms and other information avaliable for current employees log in here.
