Retirement Savings

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.

Visit the RIO 2020 page to learn more about the program and see if you qualify.

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.

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Primary Retirement Plans

Benefits-eligible employees are automatically enrolled into a primary retirement plan based on their employee group:

FRP - UMN Faculty Retirement Plan logo

Faculty Retirement Plan: For Faculty and P&A Staff

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.

MSRS - Minnesota State Retirement System logo

Minnesota State Retirement System (MSRS): For Civil Service and Labor-Represented Staff

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.

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Save More with Voluntary Retirement Plans

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.

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More Retirement Resources

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Looking for Help?

  • 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.