The MNDCP can accept certain one-time (lump sum) employee deferrals while an employee is still working.
Lump sum deferrals eligible for deferral
Paid time off payments (vacation or sick)
How to process
MSRS recommends that employees work directly with their Payroll Department if they want a lump sum deferral to their MNDCP account. Their Payroll Department will determine eligibility requirements and payroll timelines.
Note: If you remit a lump sum deferral for an actively contributing employee you must reset their
ongoing contribution amount back to their normal amount.
One-time deferral form available
If you require/prefer your employees complete a written statement, see One-Time Deferral form (pdf). Feel free to edit this form to meet your needs since the lump sum deferral agreement is between you, the employer, and your employee.