These plans are provided by Minnesota State Colleges & Universities and TIAA-CREF. Your investment choices are listed within each plan.


Individual Retirement Account Plan (IRAP)

IRAP is a defined contribution plan in which retirement benefits are based on the dollar amount in your account at retirement. Your account, which includes your contributions, employer contributions, and investment earnings, is yours beginning on the date of your first contribution. You make all the investment decisions, and you can change the investment funds as often as allowed by the fund managers.

Supplemental Retirement Plan (SRP)

Participation in SRP is mandatory following two years of full-time covered service regardless of whether you participate in IRAP or TRA. SRP is a defined contribution plan. The employee and employer amounts vary depending on your union contract or salary plan. Consult your union contract or salary plan for specific information.

Tax-Sheltered Annuity Plan (TSA)

The Tax-Sheltered Annuity is a plan that allows employees to make voluntary pretax and after-tax Roth contributions toward their retirement savings, over and above contributions made to the other plans offered by MnSCU (IRAP, SRP, TSA, MSRS). Contributions and any investment earnings in the TSA grow tax deferred until withdrawal (assumed to be at retirement), at which time they are taxed as ordinary income.