The Retirement Subcommittee, of the Senate Committee on Faculty Affairs, oversees the Faculty Retirement Plan and makes recommendations about changes that should be made to the plan.
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The Retirement Subcommittee, of the Senate Committee on Faculty Affairs, oversees the Faculty Retirement Plan and makes recommendations about changes that should be made to the plan.
Will you have enough money to retire? Is your asset mix on target to meet your goals? Whether you participate in the FRP or MSRS, use this tool provided by Securian Retirement Services to help you achieve your goals.
Results are compiled on a quarterly basis, generally within three weeks after the end of the calendar quarter.
This plan is for faculty members and professional administrative and academic (P&A) staff in select classifications with appointments of at least nine months between 67% and 100% time.
This plan is for Civil Service and non-faculty bargaining unit employees. Participation is mandatory and begins the first day of employment.
Minnesota State Retirement System (MSRS)
All faculty and staff members who are paid on a continuous basis are eligible to participate in these voluntary plans. You may contribute to one or both of these plans, effectively doubling your retirement savings potential. A variety of investment options are offered in each plan through four investment firms.
Optional Retirement Plan (ORP)
Section 457 Deferred Compensation Plan
Summary information of the Faculty Retirement Plan, Minnesota State Retirement System (MSRS), and the Voluntary Plans - Optional Retirement Plan and Section 457 Deferred Compensation.
Retirement Plan Provision Comparison (pdf)
Contact the investment companies if you have questions about specific funds they offer or about their policies or if you want a prospectus or custodial agreement. Be sure to refer to the appropriate Plan Number when you contact each company.
Employee Benefits offers various workshops throughout the year to provide more information about the retirement plans and their investment options.
Employee Benefits
100 Donhowe Building, 319 15th Ave. S.E., Minneapolis, MN 55455