MSCF Retirement Plans
** Employee elects either IRAP or TRA
Plan Administrator:
|
TIAA-CREF (Click for web site)
|
Plan Type:
|
Defined Contribution
|
| Participation: |
Mandatory** |
Contribution Amount:
|
Employee = 4.5% Employer = 6.0%
|
Plan Administrator:
|
Teachers Retirement Association
|
Plan Type:
|
Defined Benefit
|
| Participation |
Mandatory** |
Contribution Amount:
|
Employee = 5.5% Employer = 5.5%
|
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
|
| Plan Administrator: |
MN State Retirement System
|
| Participation: |
Voluntary |
Contribution Amount:
|
$10 minimum up to 100% of taxable income not to exceed $16,500; $22,000 for age 50+
|
Eligible for Voluntary State Matching:
|
No |
Leave Conversion:
|
No |
| Plan Administrator: |
TIAA-CREF (Click for web site)
|
| Participation: |
Voluntary |
Contribution Amount:
|
Up to 100% of taxable income not to exceed $16,500; $22,000 for age 50+ |
Eligible for Voluntary State Matching:
|
No |
Leave Conversion:
|
No |