IFO Retirement Plans
A summary of the available IFO Retirement Plans.
| Plan Administrator |
TIAA |
| Plan Type |
Defined Contribution |
| Participation |
Mandatory |
| Contribution Amount |
Employee = 7.5 %
Employer = 6.0% |
| Plan Administrator |
Teachers Retirement Association |
| Plan Type |
Defined Contribution |
| Participation |
Mandatory |
| Contribution Amount |
Employee = 7.5%
Employer = 7.92% |
| 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
| 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.
| 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.
