Saving For Retirement
City of Minneapolis employees have access to a variety of resources to help financially prepare for retirement:
MSRS Deferred Compensation Plan
The Minnesota State Deferred Compensation Plan allows eligible employees to accumulate additional retirement savings on a tax-favored basis through automatic payroll deductions.
Most City employees are automatically enrolled in the Public Employees Retirement Association (PERA). This retirement plan provides pension, disability, and survivor benefits. You and your employer both contribute a percentage of your pay to fund future benefits. Contribution percentages are determined by Minnesota law. Closed Pension Plans and Supplemental Union Pension Plans may also be available.
Health Care Savings Plan
The Health Care Savings Plan allows eligible employees to save money, tax-free, to pay for eligible health care expenses. Eligibility and contribution amounts are determined by your employee group.
Last updated Sep 3, 2013