Retirement Incentive Option
The 2020 Retirement Incentive Option, often called the "RIO" for short, is a one-time benefit that will only be available for a short period of time, starting on August 17, 2020. Only University employees who are close to retirement and meet the eligibility requirements can participate.
Retirement Plans Are Now Live with Fidelity
You can now sign on to Fidelity's NetBenefits site to access your Faculty Retirement Plan, Optional Retirement Plan, and 457 Deferred Compensation Plan.
Investments Transferred In-kind Will Exchange into New Fund Lineup
Any investments that transferred in-kind will transfer to the new fund lineup as an exchange at the close of business on July 30, 2020 (generally 3 p.m. Central time). You will be able to view your new investments by logging on to NetBenefits on or after July 31, 2020.
Access Your Retirement Plans
For first-time users, you can find help with NetBenefits here.
- Primary Retirement Plans
- Save More Through Voluntary Retirement Plans
- More Retirement Resources
- Looking for Help?
Benefits-eligible employees are automatically enrolled into a primary retirement plan based on their employee group:
Faculty and P&A are invested in a defined contribution plan known as a 401(a) plan administered by Fidelity Investments. Learn more about plan eligibility, performance, and the Senate Committee on Faculty Affairs Retirement Subcommittee.
This is a defined benefit savings plan, commonly known as a pension, provides a monthly benefit for life. Eligible employees are automatically enrolled starting the first day of employment. Learn more about the General Plan by visiting the MSRS site or watching a short video.
Faculty and staff can save additional money for retirement through one or both voluntary plans:
You are eligible to contribute to a voluntary plan if you are a Faculty, P&A, Civil Service, or Labor-Represented employee paid on a continuous basis.
- Compare all of the retirement plans (primary and voluntary) (pdf)
- Compare the Faculty Retirement Plan and Minnesota State Retirement System (pdf)
- University retirement-related workshops and events
- Call the Benefits Contact Center at 4-UOHR (612-624-8647 or 800-756-2363).
- Call Fidelity at 800-343-0860 for help or investment advice.
- Minnesota State Retirement System participants can call 651-296-2761 or 800-657-5757.