We are pleased to announce the cost of the Target Retirement Funds will decrease effective, February 1, 2021.

In an abundance of caution, employers are encouraged to file a Form 1094/1095 to report months in which a retired or inactive employee had an HCSP account balance.

MSRS, as the plan sponsor of the Health Care Savings Plan (HCSP), is responsible for paying the PCORI fee and filing IRS form 720.

Recent guidance provided by the Internal Revenue Service (IRS), Treasury Department, has prompted MSRS to change the definition of a "rehired employee" for the purpose of an HCSP participant's eligibility to request reimbursements.