Your Benefits
Retirement Plan-MMA
| MSRS - General Plan (Click for web site) | |
| Plan Administrator: | MN State Retirement System |
| Plan Type: | Defined Benefit |
| Participation: | Mandatory |
| Contribution Amount: | Employee = 4.25% Employer = 4.25% |
| Deferred Compensation Plan 457 - MNDCP (Click for web site) | |
| Plan Administrator: | MN State Retirement System |
| Participation: | Voluntary |
| Contribution Amount: | $10 minimum up to 100% of taxable income not to exceed $15,500 in 2007; $20,500 for age 50+ |
| Eligible for Voluntary State Matching: | * Yes up to $200 per fiscal year. Employees at top step of salary grid may elect either state match or vacation conversion. |
| Leave Conversion: | * Only employees at top step of salary grid may elect to convert up to 40 hours of vacation (1 hour for each 3 hours used in previous fiscal year). All employees may convert up to 40 hours comp time once per fiscal year. |
| * May be limited to fiscal years covered by bargaining agreement. | |
| Tax Sheltered Annuity 403(b) - (TSA) (Click for web site) | |
| Plan Administrator: | TIAA-CREF (click for web site) |
| Participation: | Voluntary |
| Contribution Amount: | Up to 100% of taxable income not to exceed $15,500 in 2007; $20,500 for age 50+ |
| Eligible for Voluntary State Matching: | No |
| Leave Conversion: | No |
| MSRS - General Plan (Click for web site) | |
| Plan Administrator: | MN State Retirement System |
| Plan Type: | Defined Benefit |
| Participation: | Mandatory |
| Contribution Amount: | Employee = 4.25% Employer = 4.25% |
| Deferred Compensation Plan 457 - MNDCP (Click for web site) | |
| Plan Administrator: | MN State Retirement System |
| Participation: | Voluntary |
| Contribution Amount: | $10 minimum up to 100% of taxable income not to exceed $15,500 in 2007; $20,500 for age 50+ |
| Eligible for Voluntary State Matching: | * Yes up to $200 per fiscal year. Employees at top step of salary grid may elect either state match or vacation conversion. |
| Leave Conversion: | * Only employees at top step of salary grid may elect to convert up to 40 hours of vacation (1 hour for each 3 hours used in previous fiscal year). All employees may convert up to 40 hours comp time once per fiscal year. |
| * May be limited to fiscal years covered by bargaining agreement. | |
| Tax Sheltered Annuity 403(b) - (TSA) (Click for web site) | |
| Plan Administrator: | TIAA-CREF (click for web site) |
| Participation: | Voluntary |
| Contribution Amount: | Up to 100% of taxable income not to exceed $15,500 in 2007; $20,500 for age 50+ |
| Eligible for Voluntary State Matching: | No |
| Leave Conversion: | No |
| MSRS - General Plan (Click for web site) | |
| Plan Administrator: | MN State Retirement System |
| Plan Type: | Defined Benefit |
| Participation: | Mandatory |
| Contribution Amount: | Employee = 4.25% Employer = 4.25% |
| Deferred Compensation Plan 457 - MNDCP (Click for web site) | |
| Plan Administrator: | MN State Retirement System |
| Participation: | Voluntary |
| Contribution Amount: | $10 minimum up to 100% of taxable income not to exceed $15,500 in 2007; $20,500 for age 50+ |
| Eligible for Voluntary State Matching: | * Yes up to $200 per fiscal year. Employees at top step of salary grid may elect either state match or vacation conversion. |
| Leave Conversion: | * Only employees at top step of salary grid may elect to convert up to 40 hours of vacation (1 hour for each 3 hours used in previous fiscal year). All employees may convert up to 40 hours comp time once per fiscal year. |
| * May be limited to fiscal years covered by bargaining agreement. | |
| Tax Sheltered Annuity 403(b) - (TSA) (Click for web site) | |
| Plan Administrator: | TIAA-CREF (click for web site) |
| Participation: | Voluntary |
| Contribution Amount: | Up to 100% of taxable income not to exceed $15,500 in 2007; $20,500 for age 50+ |
| Eligible for Voluntary State Matching: | No |
| Leave Conversion: | No |