Employers are eligible to participate in the HCSP if they make retirement contributions and take retirement deductions on behalf of employees of the state or a political subdivision, including officers or employees covered by a plan or fund specified in chapter 353D, 354B, 354D, 424A, or section 356.20, subd. 2.

Eligible MN public plans

  • Minnesota State Retirement System (MSRS)

  • Public Employees Retirement Association (PERA)

  • Teachers Retirement Association (TRA)

  • Individual Retirement Account Plan (IRAP)

  • Minnesota State Colleges and Universities (MNSCU)

  • University of Minnesota Faculty Retirement Plan

  • Police or Firefighters Relief Association

  • Volunteer Firefighters Relief Association

  • Retirement Plans for the Arts Board and Humanities Commission
     

Employers who do not participate in one of the pension funds listed above but are political subdivisions (transit authorities, post authorities, public housing authorities, etc.) can participate in the HCSP.

Participation criteria

The contribution type and amount are determined as follows:

  • Union Employees. Must be negotiated or agreed to by both the bargaining unit and employer and written into a collective bargaining agreement or Memorandum of Understanding (MOU).

  • Non-Union Employees. Must be included in a written personnel policy and include all employees covered under the personnel agreement. Employees who have an individual contract may not participate as a 1-person group.

Once contributions are approved and established in collective bargaining agreements or personnel agreement, all employees covered under the contract must participate as set forth in the agreement.

Employee participation is mandatory, except in limited circumstances as described in Waiving Participation.