If you are a qualifying employee of the state of Minnesota, you are enrolled in MSRS. The Minnesota State Retirement System was initially started in 1929 by the state legislature and was designed to manage retirement plans for eligible employees and their survivors.
Today, there are several benefits that the plan offers to Minnesota state employees. This includes the original retirement and survivor plans and also includes disability benefits coverage, which is separate from Workers’ Compensation Coverage, or other types of private disability insurance or coverage people may have in MN.
Pension Plan Basics
There are two main types of plans offered, with several options under each general plan. The pension plans are typically the least difficult to deal with as an employee, and they are divided into different plans based on employment type.
All pension plans are based on a formula of age plus years of service, with the option to buy years and to account for changes in employment status. Employees are responsible for reporting to the plan when they change jobs, move outside the MSRS employment category, or move from full to part-time or vice versa.
The second group of plans are defined contributions. These include a health care saving plan, deferred compensation plan, and a special plan for unclassified types of positions in the state.
Disability Benefits
Within the MSRS pension plans, various options in disability benefits are available. This coverage, once it is approved, continues until the disability is no longer a limiting factor in returning to work, or for a lifetime if the disability is permanent.
It is important to understand that the employee has to apply for these types of benefits and to be approved. Approval is not automatic, and many applications are rejected. Working with an experienced lawyer in the state can help disabled employees to have access to the benefits they deserve.
