IFO Retirement Plans

A summary of the available IFO Retirement Plans

IRAP/401(a) - Individual Retirement Account Plan

Plan Administrator TIAA
Plan Type Defined Contribution
Participation Mandatory
Contribution Amount

Employee = 7.5 %

Employer = 6.0%

MN Teachers Retirement Association - TRA

Plan Administrator Teachers Retirement Association
Plan Type Defined Contribution
Participation Mandatory
Contribution Amount

Employee = 7.5%

Employer = 7.92%

Supplemental Retirement Plan 401(a) - SRP

Plan Administrator TIAA
Plan Type Defined Contribution
Participation Mandatory*
Contribution Amount

Employee = 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

Plan Administrator MN State Retirement System
Participation Voluntary
Contribution Amount Minimum $10 up to 100% of taxable income not to exceed $19,500; $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 Deferred Compensation (457) Plan in Self Service.)
* May be limited to fiscal years covered by personnel plan.

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

For more specific informaiton, forms and other information avaliable for current employees log in here.