To change the contribution amount (per pay period) that is being deducted from your paycheck, you have the following options. There is no need to communicate contribution changes to your employer. MSRS will do that for you.

There are three options to update your MNDCP contribution amount:

1. Contact the MSRS Service Center at 1.800.657.5757, option 3
 

2. Complete the Quick Deferral Change form
 

3  Log into your Account Online1       
   

  • Select Go to Savings Plans at the top right of the page
    Note: If you have multiple defined contribution plans, you must choose MNDCP

  • Select Contributions & Savings

  • Select Manage Contributions  

  • Select Update My Contributions
    Choose Percentage or Dollar Amount radio button
    Enter the amount you would like to contribute each pay period
    or use the slider to select the amount. And choose if you would
    like to contribute pre-tax or Roth after-tax dollars

  • Select Save Contribution Updates
    To automatically increase your savings annually, select the Yes 
    radio button. If you do not want to automatically increase your
    savings yearly, select the No radio button

  • Select Continue

  • Review the changes and select Submit

  • Select Close to return to your account information

 

Note regarding lump-sum deferrals

If you are a non-state employee and wish to contribute a lump sum amount of the following examples of pay, please contact your Human Resources/Payroll Representative. The normal contribution amount MNDCP keeps on file is intended for the ongoing amount per pay period that is being deducted from your paycheck. It is not intended for one-time contributions.

  • Severance (sick or vacation)
  • Overtime payments
  • Retro pay
  • Achievement awards
  • PTO (paid time off) pay
  • Any one-time change in your deferral amount