HR Update

Minnesota State Retirement System (MSRS) Updates

Due to recent Minnesota state legislation, a $34 million appropriation to the Minnesota State Retirement System (MSRS) pension plan will reduce employee contributions from 6% to 5.5% for two years (July 1, 2023–June 30, 2025). Employer contributions will remain at 6.25%. 

The first paycheck that will be affected by this change will be July 26, 2023. 

Additionally, the vesting period will change from five years to three years for any Civil Service or Labor-represented employees who are active as of July 1, 2023, or hired after this date.

Learn more on the MSRS website (under “General Plan/Unclassified Plan”) and contact MSRS directly with any questions.
 

All HR Updates
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Join the April 29 Civil Service Rules Change Meeting

All Civil Service staff are invited to join an upcoming meeting to discuss a change to bereavement leave policies to include the loss of a pregnancy. 

Retirement Plan Change: Emergency Withdrawals

Learn about new emergency withdrawal options for University retirement plans administered by Fidelity Investments.

Financial Literacy Month Events and Resources

April is Financial Literacy Month! It’s a great time to get to know your University financial counseling and retirement planning benefits.

Student Loans and the Public Service Loan Forgiveness (PSLF) Program

Learn about the PSLF program.

Upcoming HR Trainings

Training available to HR professionals on topics including bump analysis, union grievances, and step progression and stability pay.