University of Minnesota
Office of Human Resources
http://www.umn.edu/ohr
612-625-2016

Retirement Savings Plans

Contact Investment Companies

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.

Investment Companies

Retirement Calculators

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.

Retirement Planning Calculators

Investment Performance Results

Results are compiled on a quarterly basis, generally within three weeks after the end of the calendar quarter.

Investment Performance Results

Plan Information Workshops

Employee Benefits offers workshops and online presentations to provide more information about the retirement plans and investment options.

Workshops and Events

The University provides basic retirement plans for both faculty and staff. Participation is mandatory, and there is no waiting period. Your required contributions are taken on a pre-tax basis.

Faculty Retirement Plan

This 401(a) plan is the basic retirement plan 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.

Faculty Retirement Plan (FRP)

Minnesota State Retirement System (MSRS)

This defined benefit plan is the basic retirement plan for Civil Service and non-faculty labor represented employees.

Minnesota State Retirement System (MSRS)

Voluntary Plans: Optional Retirement Plan and Section 457 Deferred Compensation

All faculty, P&A, Civil Service, and labor represented staff members who are paid on a continuous basis are eligible to participate in these voluntary retirement savings plans. If you wish to increase the amount you are saving for retirement, 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

Retirement Plan Comparison

This provides a summary comparison of the provisions in 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)

Retirement Plans Annual Report