Retirement can seem a long way off, but saving while you work is important for your long-term wellbeing.
- Primary Retirement Plans
- Save More Through Voluntary Retirement Plans for All
- Webinar and Seminar Videos and Handouts
- More Retirement Resources
- Looking for Help?
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.
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.
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:
- Optional Retirement Plan (ORP)
- Section 457 Deferred Compensation Plan
- Compare the Optional Retirement and Section 457 Plans (pdf)
- You are eligible if you are faculty, P&A, Civil Service, or Labor-Represented staff employee paid on a continuous basis.
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:
- Retirement Basics: Taking the Right Steps. This recorded presentation is provided by Securian Retirement Services.
- Retirement Roadmap: Keeping Your Dreams on Course. This recorded presentation is provided by Securian Retirement Services.
- Your Retirement and Social Security: Exploring Your Best Options. This recorded presentation is provided by Securian Retirement Services.
- Compare all of the retirement plans (primary and voluntary) (pdf)
- Review annual plan reports (automatic and voluntary)
- University retirement-related workshops and events
- List of investment companies (automatic and voluntary plans)
- Investment performance results (automatic and voluntary plans)
- Read more about small steps toward your retirement future
- 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.