MnSCU Retirement Plans

Defined Benefit
(Mandatory)

Defined Benefit
(Mandatory)

Defined Benefit
(Mandatory)

Defined Contribution
(Mandatory)

Defined Contribution
(Mandatory)

Deferred Compensation
(Voluntary)

Tax Sheltered Annuity
(Voluntary)

AFSCME
MAPE-Classified
MMA-Classified
MANAGER’S
COMMISSIONER’S
MGEC

MSCF
IFO
MSUAASF
Unclassified:
  -MAPE
  -MMA
(Or IRAP)

Classified TC Employees (Grandfathered in pre-merger)

MnSCU Admin.
MSCF
IFO
MSUAASF
Unclassified:
  -MAPE
  -MMA
(Or TRA)

Unclassified
Employees with more than 2 years of Full-Time service

All employees covered by a DB or DC Plan

All employees for both after tax and pre-tax (Roth) options

Eff. 7-1-08:
Employee=4.5%
Employer=4.5%

Eff. 7-1-07:
Employee = 5.5%
Employer= 5.5%

Eff. 1-1-2007:
Employee: 5.75%
Employer: 6.25%

Eff. 1-1-2008:
Employee: 6.0%
Employer: 6.5%

Employer matches at a rate of 6% gross compensation

Employee contributes 4.5% for faculty, other unclassified, and MnSCU Administrators.

Employee Contribution =5% on gross comp in excess of $6000 but limited to maximum set by bargaining unit

Employer’s Contribution=100% of EE Contribution up to $2700. (M.S. 356.24)

Eligible after 2 full years of full time employment

100% of Taxable income not to exceed $15,500 in 2007; $20,500 for age 50+. Catch-up provision limit of $31,000 for 2007

100% of Taxable income not to exceed $15,500 in 2007; $20,500 for age 50+

N/A

N/A

N/A

N/A

MSCF
IFO
MSUAASF
Unclassifieds
(up to limits set in bargaining agreement)

AFSCME
MAPE
MMA, MNA
MANAGER
COMM.
MGEC

N/A