PDF Copy of Changes

Time to Change Investment Options

Effective July 1, 2019, Minnesota State Retirement System (MSRS) will change the investment lineup available in certain plans. The funds will be similar to those currently available in the Minnesota Deferred Compensation Plan (MNDCP). The following plans will change investment options:

Health Care Savings Plan (HCSP)

Investment Option Change Questions

What’s changing?

Mutual funds will replace the existing Supplemental Investment Fund (SIF) options.

o    Money invested in existing SIF options (excluding the Money Market and Stable Value Funds) will automatically transfer to mutual funds with similar objectives and risk levels.

o    Additional mutual funds will be added to the investment lineup providing more options for you to choose from.

What’s staying the same?

The SIF Money Market & SIF Stable Value Fund are still available and not affected.

o    The Minnesota Deferred Compensation Plan (MNDCP) will not be affected by this change.

o    Administrative fees will not change.

What do you need to do?

Good news – not a thing.  Your current account balance and future contributions will transfer automatically to the new funds.

How will you be notified of the changes?

o    Mail: In late May, we will mail you an investment option change brochure.

o    Online: Starting July 1, 2019, log into your account to view your new investment options.

o    Quarterly Statements: The transfer of your account balances and new investment options will appear on your July quarterly statement. 

Investment Option Changes

The table below reflects how your existing investments will transfer to the new funds.

Important dates

·         Investment changes you initiate BEFORE 3 p.m. on Friday, June 28 will occur in the EXISTING SIF investment options. Your investment options will automatically transfer to the new mutual funds; the transaction will appear on your July quarterly statement.

·         Investment changes you initiate AFTER 3 p.m. on Friday, June 28 will occur in the NEW mutual funds and will appear on your future quarterly statements.

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