|Financial Audit Division Report 05-39||Released June 30, 2005|
The Minnesota State Retirement System administers six defined benefit retirement plans and two defined contribution plans:
The plans cover most state government and University of Minnesota employees and selected public-service organizations. In addition, the system contracts for the administration of a deferred compensation plan available to state employees and other public employees throughout the state.
At June 30, 2004, the Minnesota State Retirement System’s total net assets (excluding the deferred compensation plan) were $8.4 billion. For the year ended June 30, 2004, MSRS received contributions of about $248 million and paid benefits and refunds of about $432 million.