Minnesota State Retirement System Phone Number

Minnesota State Retirement System

Address: 60 Empire Dr, St Paul, MN 55103Hours: Open Closes 4:30PMThursday8AM4:30PMFriday8AM4:30PMSaturdayClosedSundayClosedMonday8AM4:30PMTuesday8AM4:30PMWednesday8AM4:30PMSuggest an editUnable to add this file. Please check that it is a valid photo.Phone: 296-2761: Category: : : Website: : Place name: : : Website: http://www.msrs.state.mn.us/Category: State government officeSuggest an editUnable to add this file. Please check that it is a valid photo.Unable to add this file. Please check that it is a valid photo.Questions & answersAsk a questionQ: Do I need an appointment to discuss my retirement or can I just stop in?See all questions Add a photoThanks for sharing!Your photo will be posted publicly on Google.Contribute MoreDoneUpload public photos of Minnesota Retirement SystemPosting publicly on the WebWrite a reviewReviewsBe the first to review

Minnesota State Retirement System List of Employees There’s an exhaustive list of past and present employees! Get comprehensive information on the number of employees at Minnesota State Retirement System. You can filter them based on skills, years of employment, job, education, department, and prior employment.

Minnesota State Retirement System Salaries. You can even request information on how much does Minnesota State Retirement System pay if you want to. Learn about salaries, pros and cons of working for Minnesota State Retirement System directly from the past employees.

Meet With Msrs Retirement Counselor

Complete the to schedule an in-person office appointment or an appointment via phone or virtual appointment conducted by Zoom video conferencing.

• Phone and Zoom appointments are available weekdays between 8 a.m. and 4 p.m.
• In-person appointments in the St Paul office are available weekdays from 9 a.m. to 12 p.m. and 1 p.m. to 3 p.m.
• In-person appointments in Greater Minnesota offices are available on Wednesdays only during April from 8 a.m. to 4 p.m.

Be assured that we can do almost everything by phone or Zoom video conference that can be done during an in-person appointment including:

• Discuss your retirement plan features and benefits.
• Provide instructions on how to apply for your MSRS pension plan benefit.
• Guide you as you complete forms including application for a retirement or disability benefit MNDCP withdraw HCSP reimbursement and much more.
• Process financial transactions as you instruct.

Meeting With Human Resources:

Approximately 6-8 weeks prior to an employees retirement date, a meeting will be scheduled to discuss the retirement in more detail. Two months is the earliest an employee can complete the retiree insurance forms. At that meeting employees will be given information about options for continuation of insurance coverage along with the form for electing to continue or end coverage. In the meantime, additional retiree benefit information can be accessed on the MMB website. The employee will also be given estimates of severance pay as specified in the appropriate bargaining unit contract, and information about the Health Care Savings Plan that the majority of those payments usually go into. Please keep in mind that the current bargaining unit contract in effect at the date of retirement will dictate payoff eligibility related to severance, as well as any other benefits employees are entitled to receive.

Submitting your retirement notice:

Refer to the appropriate bargaining unit contract or personnel plan for information about deadlines for submitting a letter of retirement. The IFO and MSUAASF contracts have specific deadlines related to eligibility for early notice and early separation incentive eligibility.

IFO Pay disbursement schedules change in final year:

NOTE for IFO employees only: If the retirement date coincides with the end of spring semester, benefits typically extend through the end of August.

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Minnesota State Retirement System: Legislators Plan

State legislators are required to contribute to the MSRS Legislators Plan if they were elected to serve before June 30, 1997. They must contribute 9% of their gross salary to the plan while serving.

Legislators receive full benefits if they retire at 62 and reduced benefits if they retire at 55. The monthly retirement payment depends on salary, the number of years served, and benefit options they chose when enrolling in the plan.

Minnesota State Retirement System: Unclassified Plan

You may be eligible for the MSRS Unclassified Plan if youre appointed a political position and expected to serve a short period of time. Youre required to either contribute to the Unclassified Plan or the General Plan as an unclassified state employee.

You must contribute at least 6% of your pay to the pension plan. The funds you contribute are invested into a target retirement fund, which is designed to specifically target your retirement age.

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Public Employees Retirement Association : Correctional Plan

Public correctional facility employees, including workers in charge of inmate security, control, and custody, must contribute 5.83% of their pay to the PERA Correctional Plan. This plan eventually pays these public employees back during their retirement years. The benefit amounts they receive depend on their retirement age, the number of years they served, and the average salary they earned while working.

Minnesota State Retirement System: Correctional Plan

State employees who spend at least 75% of their working hours dedicated to inmate care are eligible to contribute to the MSRS Correctional Plan. This includes correctional officers and employees who work for the Minnesota Department of Corrections and Human Services.

You must contribute at least 9.6% of your salary to participate in this retirement savings plan. Its important to continue working for the state and avoid switching jobs frequently because the retirement benefits you receive are based on the number of years you remain employed and the average salary you earn.

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Public Employees Retirement Association : Police And Fire Plan

Law enforcement officers and local governmental firefighters considered public employees and hired after 1980 contribute to the PERA Police and Fire Plan. They must contribute 10.8% of their pay and will receive full retirement benefits when they retire at 55. The amount of benefits theyre entitled to depends on their salary and the number of years they served.

Minnesota Deferred Compensation Plan

The Minnesota Deferred Compensation Plan allows full-time, temporary, and part-time state employees an alternative option to save for retirement. Employees choose how much to contribute and the specified amount is automatically taken from their paychecks and placed into their MNDCP account. Withdrawals may be taken from the account once the employee retires or if their employment with the state is terminated.

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Minnesota State Retirement System: General Plan

The MSRS General Plan is the largest state worker pension plan available. Most state employees qualify for this retirement plan, including:

• University of Minnesota civil service employees
• Public safety personnel
• Elected officials
• Other unclassified state employees.

You must contribute at least 6% of your paycheck to the plan. The amount of retirement benefits youre awarded when you stop working is determined by the number of years you worked for the state and your average salary throughout your career.

Retirement System Gains 3 Weeks In Acfr Process With Workiva

Disconnected Challenges

The Minnesota State Retirement System wanted more control over their documents than they had when working with an outside publisher.

Connected Results

• Shaved 3 weeks off the annual comprehensive financial report process, gaining time to focus on other work
• Saved an estimated 300 hours of employees’ time preparing the ACFR
• Went from “all hands on deck” during ACFR season to freeing the accounting manager to focus on her accounting team
• Cost-neutral switch from using a traditional printer to using the Workiva cloud platform

Why They Chose Workiva

• Easy-to-see benefits of automating menial tasks
• Features including blacklines to ease reviews between two versions of a document
• Control over their own documents from beginning to end instead of sending drafts back and forth to a traditional publisher

Try researching and writing a book in six months or less, and that’s basically what it feels like to produce an annual comprehensive financial report every year. Yet Cheryl Jahnke and Tim Rekow of the Minnesota State Retirement System say ACFR season is one of their favorites. “I would say it’s the most fun project that I get to work on each year. It’s a feat,” said Tim, Chief Financial Officer of MSRS. “We’re talking over 200 pages of tons of details, and we have to have every single figure right. It has to be accurate, it has to be supported, and it’s an endeavor. It is a lot of time. It’s a ton of effort.”

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Losing Stress While Gaining Flexibility And Control

The MSRS team spent time up front initially setting up their first ACFR in the Workiva platform and linking data. In the second year, they shaved three weeks off the process, saving an estimated 300 hours. An accounting manager who once pitched in to get the ACFR over the finish line is now able to focus on her own team, and Cheryl has more time for her risk management responsibilities.

“It’s made my life easier just because it’s removed so much stress, so many time pressures,” Cheryl said. “It’s just improved the process with being able to do things electronically and not pass paper around.”

Tim can review pages remotely, which gives him the flexibility to take a break from work to spend time with his wife and kids in the evening and log in later to review drafts and supporting documents from home. Reviewing work at home wasn’t really practical in the past. “You’d have to pack up a suitcase with the documentation to be able to tie things out,” Tim said.

The team can attend the annual P2F2 conference in October for public pensions without worrying about the ACFR work they’re pausing and enjoy more fall weekends before the Minnesota winter sets in.

MSRS also is starting to use Workiva for risk management. Cheryl and Tim expect to see the same efficiencies and control in risk management that they did with the annual report that’s read by retirement system members, the public, and bond rating agencies.

Minnesota State Retirement System: State Patrol Plan

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Youre eligible to participate in the MSRS State Patrol Plan if youre a:

• Crime bureau agent
• Fraud investigator with the Department of Commerce
• Member of the fugitive apprehension unit with the Department of Corrections.

You must contribute 14.9% of your pay to this pension retirement plan and wait until youre 60 to stop working in order to receive full benefits.

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Types Of Retirement Systems

There are several retirement plans available to Minnesota state workers. As a state employee, the retirement saving plan youre eligible to participate in depends on your occupation. Your eligibility to participate and the retirement benefits you qualify to receive also depend on when you started working for the state, how long you work for the state, and your retirement age.

If you were hired on July 1, 2010 or later, you:

• Are only eligible for retirement benefits if youve worked for the state for at least five years
• May receive reduced monthly retirement benefits if you retire at 55
• May receive full pension benefits if you wait to retire until youre 66.

If you were hired between July 1, 1989 and June 30, 2010, you:

• Are only eligible for retirement benefits if youve worked for the state for at least three years
• May receive reduced monthly retirement benefits if you retire at 55
• May receive full pension benefits if you wait to retire until youre 66.

If you were hired by the state before July 1, 1989, you:

• Will receive full retirement benefits if your age plus the years you worked for the state add up to 90 or more and you wait to retire until youre 60
• Will receive reduced monthly retirement benefits if youve worked for the state for at least 30 years but you retire at 55.

Minnesota State Retirement System: Judges Plan

The MSRS Judges Plan is a pension plan reserved for judges or justices who serve in state courts. Eligible state employees who were elected before July 1, 2013 must contribute 9% of their pay to the plan and those elected after June 30, 2013 must contribute 7%.

When judges or justices retire, they receive monthly retirement payments, which may increase throughout the years. Retirement benefit amounts are dependent on retirement age, salary, contributions, and benefit options.

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Public Employees Retirement Association : Statewide Volunteer Firefighter Retirement Plan

Volunteer firefighters who work for independent nonprofit firefighting corporations or municipal fire departments may choose to contribute to the PERA SVFRP pension retirement plan. These workers may choose how much to contribute. To receive retirement benefits, a volunteer firefighter must be at least 50 years old, have served for at least five years, and must have stopped working for the fire department for at least 30 days.

Public Employees Retirement Association : General Plan

Non-elected public employees who work in Minnesota counties, cities, and school districts are required to contribute 6.5% of their pay to the PERA General Plan. The retirement benefit amounts they qualify for when they stop working depend on the age they retire, the number of years they worked, and when they were hired by the state.

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Transforming The Acfr Process

Until a few years ago, the MSRS team would put documents and spreadsheets into PDF files to send back and forth to a contractor for editing and publishing. Staying on top of all the versions was “chaos,” Cheryl said. Making a late change could throw off the layout of the final document, so “it was an adventure to see what came back from the publisher,” Cheryl quipped.

“I’m not necessarily a control freak, but it was really hard to lose touch with something that you’re directly responsible for in multiple points of a process,” Tim said.

When Tim learned that using ACFR software to streamline the reporting process wouldn’t necessarily cost any more than contracting with a publisher, the hunt for a solution was on. They chose the Workiva connected reporting platform because:

• It had the friendliest user interface
• Users can create their own blacklines in minutes to quickly see what changed between versions
• By linking data across the document, they can automatically update all instances of a data point in the ACFR by updating information at the source
• They can attach supporting documents to specific pages so reviewers can access them easily
• The team can log in to their work from anywhere with a secure internet connection
• Everyone can collaborate in real time in the cloud and see each other’s work, if they have the right permissions

“With Workiva, it was really quite easy to see the benefits right away,” Tim said.

Other Considerations As You Plan For Retirement:

Talk with your retirement plan administrator about your retirement account. It is important to understand the amount of your retirement account, the choices you have to make about disbursement of your funds, the application process and time frame, and any documentation they may need from you.

IRAP and/or SRP retirement plans:Visit the TIAA website or contact them at 800-682-8969. Paul Fuller is a financial consultant with TIAA, and he visits campus on a regular basis. Please refer to the HR website for dates/times, or watch your email for communication from our Benefits Specialist. The nearest local office is located at: 8000 Norman Center Drive, Suite 650 in Bloomington, in the Normandale Lake Office Park.

TRA retirement plan:

Visit the TRA website or contact them at 800-657-3669. You can make an appointment to meet with someone at their Mankato office, located at the former Brett’s Building, 11 Civic Center Plaza, Suite 150. Note: The entrance to TRA is on the north side of Brett’s Building. There is no access from the mall.MSRS retirement plan:Visit the MSRS website or contact them at 800-657-5757. You can make an appointment to meet with someone at their Mankato office, located at the former Brett’s Building, 11 Civic Center Plaza, Suite 150.

Health Care Savings Plan:

Other retirement plans:

Contact any other retirement plans you may have, such as Tax Sheltered Annuities or retirement plans from previous employment.

Social Security:

Medicare:

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