5.3. ERMUSR 11-17-2009 - Laserfiche WebLink

Home Browse Search

'Why is participation in this plan mandatory? Can I opt out? 1RJ i tiles require that ail employees patticic~are ~:~~ iiC'.Sf ~dopt_d by their ~mpluyer er bargaining ani[- ?-lowever you can ~ ~_ eta ri~~~he Plan ifycu: • Ire a foreign national • rave comprehensive health insurance co~~erag° pry vided fer life that !s ai I~asr i0 percent paid for by a^ employe? • Are ;eligible for T'RICARL tJnc: you opt aut, you may riot participarc ar artv_ime r.:hc `ut~~re. Contact MSRS for more informat=on_ How are contributions invested? [-ICSP coneributions are invested in your choice of seven investment options. See "HCSP Investment Options" below for a list of the available investment options. Contributions are automatically invested in the Nloney tUtarlcet Account unless you elect one or more of the other investment options. You can change how future contributions are invested, or transfer all or a portion of your existing balance among any of the investment options'. There are three uvays to manage your investment selections: "~~,.. • Online at ~ ~ a<.r.~. • ~ sate :x:~.rhu • By phone using the Automated Voice Response (AVRI System • Contact an MSRS Representative at °.i~ ~-?~"~ ~ %;~1 or toll-free at 1-01)t}-~~_-77 `You may not transfer- balances directly from the Fixed Interest Acco~snt to the Money Nlarizet Account. you can invest your HCSP contributions in any combination of seven investment options. For additional investment information, go to wunamsrs.state:mn.us and select "Health Care (HCSP), " then `7nvesh~:ent Options' To renieu~ a prospectzrs, t=rsrt :v:uwsbistat~ nrnars. The prospects is located zmder the Pzzblicatiozzs liuk. Please cozuider the investment objectives, risks, and charges end expenses of the. inveshnez:t options carefully before investing. ~ Money Market Account Maintains principal value and earns interest that is competitive with rates available in short-term money market funds chat invest only in securities backed by the U.S. government. Shares of the Account are neither insured nor guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. ©Fitied Interest Account Designed to maintain principal value and to provide competitive interest rates by investing primarily in stable value instruments such as insurance company investment contracts, bank investment contracts and security backed contracts. ©Rond Market Account Generates returns from interest income and capital appreciation by investing in government issues, high-quality U.S. corporate bonds and mortgage securities that have intermediate to .long-term maturities. a { ; ~~' ~ ~ , '-' "*~~ How HCSP say=es you money $ere's an example of how contributing a severance.payment to your HCSi' could save you money. Ler'ssajr you are eligib~c for $5000 in severance. If this was paid to you in cash, you.°o~uld only- receive ab4ur X3,000 after deducting tedertl, scare 3nek F.[CA(Social,Securityand:L4edicarc; taxes.. [t,vour sevetanc~ is directed it~co I-`[CSI', clie e~ttire ;p5',00(J would be available fqr teimbursemeet of health care-expenses.,. efFectively saving-you $?,U00. Q Income Share Account Earns returns from capital appreciation and income from dividends and interest by investing in a mix of stocks, bonds and cash. The Account's stock segment is managed passively to the Russell 3000 Index, a broad market index chat captures the returns of a wide range of publicly traded U.S. stocks. Q Common Stock Index Account Generates returns by passively investing in domestic stocks of the Russell 3000 Index, a broad market index that captures the returns of a wide range of publicly traded U.S. stocks. Q Growth Share Account Generates .returns by actively investing in stock of U.S. companies as measured by the Russell :1000. ~ International Account Earns returns by investing in the stock of foreign companies, with the majority of the Account typically invested in the Eve largest international markets: United Kingdom, Japart, Germaziy, France and Canada.