Retirement Savings

Retirement can seem a long way off, but saving while you work is important for your long-term wellbeing.

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Primary Retirement Plans

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

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 Securian Retirement Services. Learn more about plan eligibility, performance, and the Senate Committee on Faculty Affairs Retirement Subcommittee.

New website for Faculty Retirement Plan participants

Securian Retirement participants will experience a new website starting March 1. To learn more about the enhanced site, you can view a video or a printable document (pdf).

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

This is a defined benefit savings plan, also known as a pension. If you’re eligible, you are automatically enrolled starting on your first day of work at the U. The hiring department and you will need to complete the MSRS form and send it to the form to Total Compensation in the Office of Human Resources in order to get your online account set up.  Learn more about the MSRS General Plan.

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Save More through Voluntary Retirement Plans for All

Faculty and staff can save additional money for retirement through the University through a voluntary plan. Save as little as $200 a year and build your retirement savings over time. Watch this short video to learn more about both plan options:

You can invest in one or both plans:

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Webinar and Seminar Videos and Handouts

Pre-Retirement Planning Seminars were held in spring of 2017 and links to the videos and presentation handouts are provided below.

  • "Required Minimum Distributions (RMDs)," presented by Diane Ellis, Securian Retirement (video, pdf)
  • "Estate Planning," presented by Edward Tully, Gray Plant Moody (video, pdf)
  • "Social Security and Medicare," presented by Rhonda Whitenack, Social Security Administration (video, pdf)
  • "Supplemental Medical, Dental, and Life Insurance," presented by Melinda Soderberg, Total Compensation, Office of Human Resources (video, pdf)

Free webinars on a range of personal finance topics were held during National Retirement Security Week in 2016 for all employees. Recordings of three sessions are available to view anytime:

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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) and talk to a counselor.
  • Faculty Retirement Plan participants can contact Securian Retirement Services at 651-665-3670 or 800-421-3334 and talk with a representative or plan a face-to-face meeting.
  • Minnesota State Retirement System participants can call 651-296-2761 or 800-657-5757.