Msrp maryland. gov web page will take you to this screen: Selecting “Employees” will bring you to a page with many useful links as seen on the next slide. on August 19, 2024 at MSRP headquarters located at 6 St. See limits at MSRP Contribution Limits. maryland. Once registered, participants will receive instructions specific to the A . Maximum loan amount is 50% of a participant’s account balance not to exceed $50,000, less the highest remaining loan balance for the prior 12 months of other obligations from this or other plans offered by an employer. See how different contribution amounts could grow over time. e. MSRP and Nationwide are aware of recent communications that are being sent by third parties to State of Maryland employees offering opportunities to discuss their Supplemental Retirement Account. PP a potential and th e 401 combined (k) Plan but not more than $20 ,500 contribution [or 403(b)], one may of $41,000. Nov 2, 2018 · Skip to main content Skip to site navigationSRPS Introduction Effective July 1, 2025 Maryland State Employees Supplemental Retirement Plans 457(b), 401(k), 403(b), 401(a) 410-767-8740 MSRP. Maryland Supplemental Retirement Plans 6 Saint Paul Street - Suite 200 Baltimore, Maryland 21202-1608 Tel: 410-767-8740 or 1-800-543-5605 Board’s Website: MSRP. com: Payroll Type and 6-digit Agency Code are required to enroll. This overview deals with the highlights of these benefits. These plans allow for tax-sheltered income deferral; tax-deferred annuity (primarily for employees of State & local educational institutions); profit sharing; and salary reduction. The Board of Trustees (the “Board”) of the Maryland Teachers & State Employees Supplemental Retirement Plans (“MSRP”) convened at 9:30 a. com Counties: Supporting the Retirement Specialist Territories of Mary Grupenhoff, Amy Lillis-Konopacki and Kevin Pittman Office of Contract Oversight (OCO) The Office of Contract Oversight (OCO) ensures accountability, transparency, and efficiency in administering contracts for the State of Maryland. Details regarding the date of the plan administrator transition from Nationwide Retirement MISSION To enable State employees and teachers to participate in voluntary tax-sheltered income deferral, tax-deferred annuity, and profit-sharing and salary reduction savings plans that offer members tax advantages as provided in the Internal Revenue Code. Welcome three Maryland Supplemental Retirement Plans (MSRP). To have an educational session scheduled at your agency work site, have your benefits coordinator email the request to reservations. All DoIT content is filtered through Google Translate which may result in unexpected and MSRP Enrollment Kit The MSRP Basics and MSRP Enrollment Kit are a valuable source of information on the supplemetal retirement plans. Employees over 50 can make catch-up contributions to the 457 (b), 403 (b) and 401 (k) Plans over and above the 401 (k) and other limits. These efforts are designed to create awareness among State employees of the need and mechanisms available to save for their own In addition to eligibility requirements, employees who defer/contribute to the MSRP 457(b), 401(k), or 403(b) plans or employing institutions’ 457(b), 401(k), or 403(b) plans (MSRP, TIAA, or Fidelity Investments) either by payroll deduction or reduction in salary will be eligible for the Match up to $600 per fiscal year as of July 1, 2023. Davis, Treasurer of MarylandThe Honorable Dereck E. The 457 (b)Plan allows hardship distributions for unforeseeable emergencies causing financial hardships. • Unlimited contribution changes efective within timing restrictions. , all of the plans other than the 457 (b)and 401 (k) Roth Plans), because all contributions are made through payroll deductions before federal and state income taxes are assessed, this serves to lower your annual taxable income. Learn about the different types of retirement plans offered by MSRP for State of Maryland employees, such as 457(b), 401(k), Roth 401(k) and 403(b). Member Services Team The Member Services Team provides education to State employees about the Supplemental Retirement Plans, saving for retirement, and the broader topic of financial planning and wellness through webinars, seminars, special events, and targeted communication campaigns. Roberts serves as MSRP’s Deputy Executive Director & Chief Financial Officer. Maryland State Employees Supplemental Retirement PlansRonda Butler Bell, Executive Director & Board Secretary 2021 - Present - As head of this independent State agency, Ms. We rely on you to share webinar announcements with employees and encourage attendance at Investment Options Active or Passive Managed Investment Options MSRP Investors who choose the traditional approach of determining their own investor profile and asset allocation plan may now implement their investment strategy using either active and/or passive investment managed options. Maryland State Employees Supplemental Retirement PlansInvestment Policy The MSRP Investment policy document sets the current guidelines followed by the Board of Trustees and Advisors in selecting, monitoring, replacing and closing the investment options offered MSRP participants. Maryland Teachers and State Employees Supplemental Retirement Plans Maryland Teachers and State Employees Supplemental Retirement Plans logo Maryland Teachers and State Employees Supplemental Retirement Plans Maryland Teachers and State Employees logo with text labelling the logo specific to Supplemental Retirement Plans Our Mission: To enable State employees to participate in voluntary tax sheltered income deferral, tax deferred annuity, and profit sharing and salary reduction savings plans that offer members tax advantages as provided in the Internal Revenue Code. The point is, getting in empowers people to play an active role in their own financial freedom. gov, 1-800-543-5605, or 410-767-8740. Maryland State Employees Supplemental Retirement PlansHardship Provisions 457 (b)Plan. Maryland State Employees Supplemental Retirement PlansDirections to the Agency We’re on the 2nd floor of the William Donald Schaefer building at 6 St. The Maryland State Employees Supplemental Retirement Plans is an Equal Opportunity Employer. See the ICP fact sheet to find out “Countdown to Retirement” Understanding Retirement Readiness Visit MSRP. Lynne Celia Phone: 703-608-5603 E-mail: Lynne. Code Ann. Nov 2, 2018 · Eligible members can estimate their retirement benefits using our online benefit estimator through our secure website Maryland State Employees Supplemental Retirement PlansInvestment Performance Reports To help you track the performance of the investment options available to you in the Maryland Supplemental Retirement Plans, the Board of Trustees provides you with an Investment Performance Report both monthly and quarterly. The Maryland Supplemental Retirement Plans (MSRP) are a State-sponsored benefit that helps you save to meet your savings goals. The IRS requires a 20% federal income tax Enrolling -Maryland State Employees Supplemental Retirement PlansAn official website of the State of Maryland. MSRP staff also provides educational programs and information to State employees and human resources personnel. Catch-up for Over Age 50. Join MSRP or increase your contributions TODAY and secure your financial future! Visit MarylandDC. Until April 2011, your contribution to MSRP was always "before taxes". gov or Nationwide. In addition to Treasurer Davis’ responsibilities for managing the Office of the State Treasurer, he serves as the chief representative of the State dealing with financial rating agencies and Others Market Update - And now the kitchen sink (Rev 03/30/2020) MSRP Maryland State Employees Supplemental Retirement Plans 410-767-8740 800-543-5605 Contact Us Maryland State Employees Supplemental Retirement PlansDebra L. Its investment objective is to preserve principal and provide a stable rate of return through interest payments. Maps The Maryland Teachers and State Employees Supplemental Retirement Plans (MSRP) lacked assurance that the plan administrator had sufficient protections against operational and security risks including the security of sensitive participant data maintained by the administrator. Maryland State Employees Supplemental Retirement PlansThe Maryland Department of Information Technology (“DoIT”) offers translations of the content through Google Translate. Share sensitive information only on official, secure websites. INFO MSRP staff looks on as Governor Wes Moore signs HB 0982 (State Contributions to Supplemental Retirement Plans) into law and celebrates the reinstatement of the dollar-for-dollar match of up to $600. The Honorable Dereck E. Catch The Match, It’s Back! Maryland Supplemental Retirement Plans 6 Saint Paul Street Baltimore, Maryland 21202-1608 - Suite 200 Tel: 410-767-8740 or 1-800-543-5605 Website: MSRP. These efforts are designed to create awareness among State employees of the need and mechanisms available to save for their own MSRP May and June 2025 Webinar Schedule and Registration MSRP May and June 2025 Webinar Schedule and Registration All webinars are approximately 45 minutes in length Click on the links below to register for webinars! Others Market Update - And now the kitchen sink (Rev 03/30/2020) MSRP Maryland State Employees Supplemental Retirement Plans 410-767-8740 800-543-5605 Contact Us Selecting the “Maryland State Employees” link in the bottom left corner of the Marylandtaxes. Join MSRP and become a member today! Enroll at MarylandDC. Maryland Teachers & State Employees Supplemental Retirement PlansOn April 23, 2025, the Maryland Board of Public Works approved the MSRP Board of Trustees contract award to Empower Retirement, LLC for Solicitation #G50B5600001 - MSRP Plan Administrator Services For Supplemental Retirement Plans. No, but I'd like to get oneMaryland State Retirement Feb 18, 2025 · Maryland Teachers & State Employees Supplemental Retirement PlansBoard of Trustees Meeting Minutes Meeting minutes will be posted after approval. All employees of the State of Maryland, including contractual employees, are e igible to participate in the 457(b) and 401(k) plans. Nov 2, 2018 · It’s a secure website for State Retirement and Pension System members and retirees that enables you to get account information, make transactions and send secure messages to the Maryland State Retirement Agency. They are available for Nov 2, 2018 · Election to Not Participate in the Maryland State Retirement and Pension System Note: Applies only to individuals who are eligible to elect to participate in the Optional Retirement Program or who are eligible to decline to participate in the Employees’ Pension System. This document is updated annually. To qualify for a hardship distribution, you must provide financial records that document your hardship. View your balances for all plans, regardless of vendor. February 19, 2025 BALTIMORE, MD – Eligible payees (retirees and beneficiaries) of the Maryland State Retirement and Pension System will notice an increase in their monthly allowance beginning in July as the 2025 cost-of-living adjustment (COLA) takes effect. MARYLAND TEACHERS & STATE EMPLOYEES SUPPLEMENTAL RETIREMENT PLANS Board Minutes Ronda Butler Bell, Executive Director & Secretary to Board of Trustees Planning and Filing for Retirement: Learn about the steps to retire from the Optional Retirement Plan (ORP) and the Maryland State Retirement and Pension System (MSRP). Learn to make better decisions about managing your money and planning for retirement. Compare features, benefits, tax implications and how to enroll online. Paul and Baltimore . The same topics will be covered in both formats: MD State Pension, Legal Issues, Social Security Benefits, and Supplemental Retirement Plans. The Maryland Teachers and State Employees Supplemental Retirement Plans (MSRP) are administered by a board of trustees, as established in Title 35 of the State Personnel and Pensions Article. She joined MSRP in 2004 and has over 20 years of budgeting, finance, and audit experience. This means the member qualifies for retirement benefits based upon the member’s length of service, and the benefit is pre-determined based on a formula. Eloise Foster, Board Chair Ms. Paul Street, Suite 200, Baltimore, Maryland. Jul 1, 2011 · Maryland State Police Retirement System Law Enforcement Officers' Pension System Judges' Retirement System Legislative Pension Plan Optional Retirement Program This booklet is provided for eligible employees of certain employing institutions of higher education to provide a comparison of the different program options. or membersrvs. Where will the State contribute my Match dollars? MSRP Staff and Principal Counsel/Assistant Attorney General Executive Leadership Ronda Butler Bell, MPA Executive Director & Board Secretary Nakeia C. Enrolling -Maryland State Employees Supplemental Retirement PlansBenefits & Enrollment For the “pre-tax” plans (i. Your calendar year 2024 tax statement is currently available in your mySRPS account as well as those from the past four years. The Maryland General Assembly has passed Senate Bill 200, which officially renames the Maryland Teachers & State Employees Supplemental Retirement Plans (MSRP) to the Maryland State Employees Supplemental Retirement Plans. Maryland Teachers & State Employees Supplemental Retirement PlansBenefits & Enrollment For the “pre-tax” plans (i. ICP Investment Policy guidelines available at this link, are annually updated as needed by the ICP Investment Manager and approved by the MSRP Board of Trustees. More information is available in the retirement video and pamphlets. 7 Welcome to MSRP’s Education Page One of the most important goals of Maryland Supplemental Plans is to provide financial education to all State employees about the Supplemental Retirement Plans, the importance of saving for retirement, and the broader topic of financial planning. Maryland. Tax-deferred, or Welcome to the Benefit Coordinator Page! As your Agency’s Staff Liaison (Benefit Coordinator, Retirement Coordinator, or Agency Contact), you provide encouragement, education, and resources to help employees understand the benefits of saving for the future through Maryland Supplemental Retirement Plans. It covers basic information including eligibility, fees and services as well as ways to receive your money. co nt balance, you don’t need to complete this section Proportionately from all sources and funds (pro-rata A: Minimum loan amount is $2,500. When you enter the lobby, please sign in at the attendant’s desk and you’ll be directed to our offices. Please note: Those enrolled in the Teacher Pension, LEOPS, or Optional Retirement Plan (ORP) are not eligible. Hill Assistant to the Executive Director EEO Officer/HR Liaison Maryland State Employees MSRP provides supplemental retirement plans like 457(b), Roth 457(b), 401(k), Roth 401(k), 401(a), and 403(b) plans to help Maryland state employees save for their future. You can contact MSRP at membersrvs. MARYLAND TEACHERS & STATE EMPLOYEES SUPPLEMENTAL RETIREMENT PLANS Board Minutes Lara L. You may find more specific information on the tax treatment of payments drawn from retirement plans in the Internal Revenue Service (IRS) Publication 575 Maryland Teachers & State Employees Supplemental Retirement PlansContact Days and Hours of Operation Monday - Friday 8:00 a. OCO Page is Nov 2, 2018 · All calendar year 2024 tax statements for payees of the Maryland State Retirement and Pension System will be mailed no later than January 31, 2025. MSRP's Plan Administrator is changing to Empower Retirement as of September 18, 2025 Please click here for important information. MSRP- Plan InformationDescription of the Maryland Supplemental Retirement Plans The State of Maryland provides the Maryland State Employees Supplemental Retirement Plans as an employee benefit. , State Personnel and Pensions Article §32-205(a) to require the State of Maryland to make contributions to the applicable State supplemental retirement plan employer in an amount equal to the lesser of participating employees’ payroll deferral/ contributions or $600 per fiscal year for State employees IMPORTANT INFORMATION REGARDING THE MSRP 403(b) PLAN On May 19, 2025 the Board of Trustees of the Maryland Teachers & State Employees Supplemental Retirement Plans (“MSRP”) voted to “freeze” the State of Maryland Tax Sheltered Annuity 403(b) Plan (the “MSRP 403(b) Plan”). Our Mission: To enable State employees to participate in voluntary tax sheltered income deferral, tax deferred annuity, and profit sharing and salary reduction savings plans that offer members tax advantages as provided in the Internal Revenue Code. The MSRP Member Services Team: Maryland House Bill 982 was signed into law on April 24, 2023 and amended Md. Eloise Foster, Chair (chosen by Governor), 2025 Forms by Maryland State Employees Supplemental Retirement Plans Agency. The available plans include: Enroll in one or more USM Supplemental Retirement plans through Fidelity and/or TIAA. She has more than three decades of experience in the public sector, where she developed an expertise in fiscal policy and management. Research investment options provided by both plan vendors. Death Benefit Generally, our death benefit protection provides financial protection to your designated beneficiary (ies) if your death MSRP provides supplemental retirement plans like 457(b), Roth 457(b), 401(k), Roth 401(k), 401(a), and 403(b) plans to help Maryland state employees save for their future. gov website belongs to an official government organization in Maryland. Eloise Foster, Chair (chosen by Governor), 2009 This program is administered by the Community College of Baltimore County. Nationwide may receive payments from Maryland State Employees Supplemental Retirement PlansDistribution Requirements 457 (b) Plan. Optional Retirement Program Nov 2, 2018 · Benefits Overview The Maryland State Retirement and Pension System has a long, secure history of providing benefits to its members. Employees are able to opt-in for electronic delivery of their form W2 using POSC MSRP August 2025 Webinar Schedule and Registration All webinars are approximately 45 minutes in length Click on the links below to register for webinars! The Maryland General Assembly has passed Senate Bill 200, which officially renames the Maryland Teachers & State Employees Supplemental Retirement Plans (MSRP) to the Maryland State Employees Supplemental Retirement Plans. Contract Awards On April 23, 2025, the Maryland Board of Public Works approved the MSRP Board of Trustees contract award to Empower Retirement, LLC for Solicitation #G50B5600001 - MSRP Plan Administrator Services For Supplemental Retirement Plans. 949%. mySRPS is a secure platform for Maryland State Retirement and Pension System members to access their accounts, manage benefits, and plan for retirement. The Maryland Supplemental Retirement Plans (MSRP) staff support the board of trustees’ work in selecting investment options and overseeing operations. If you reach out by phone, please ask to speak with a Member Services Education Specialist. com A . gov 6 Saint Paul Street - Suite 200 Nationwide Retirement Solutions and Nationwide Life Insurance Company (collectively "Nationwide") have trademark and licensing services relationships with the National Association of Counties, the International Association of Fire Fighters-Financial Corporation, the United States Conference of Mayors and the National Association of Police Organizations. Hjortsberg, Esq. However, you must have a minimum combined account balance of $5,000 in one IRS code (pre-tax and/or after-tax (Roth) accounts). Because Google Translate is an external website, DoIT does not control the quality or accuracy of translated content. Sign up and manage your deferred compensation retirement account. The bill-signing event occurred on April 24, 2023, at the MD State House in Annapolis, MD. Challenges experienced by the US Post Office may cause a delay in delivery for some payees. Access investment tools and calculators. Income taxes on your contributions and earnings Introduction The Board of Trustees of the Maryland Teachers and State Employees Supplemental Retirement Plans hereby adopts this Statement of Investment Policy (Statement) for the Supplemental Retirement Plans. Normally budgetable expenditures, such as the purchase of an automobile, do not qualify as financial MARYLAND STATE EMPLOYEES SUPPLEMENTAL RETIREMENT PLANS Board Minutes Ronda Butler Bell, Executive Director & Secretary to Board of Trustees MSRP supplemental retirement plans comparison chart What’s the same for every plan? • Minimum contribution is $5 per biweekly pay. gov to register for this series and many more webinars! Contact Your Local Nationwide Representative MarylandDC. Webinar Schedule MSRP's Office of Member Services offers information booths and several types of workshops, seminars and individual sessions. Roberts, Deputy Executive Director & Chief Financial Officer Ms. You may begin distribution of your account, without an IRS 10% early distribution penalty, when you separate from State service, regardless of age. The information in this presentation is based on current interpretations of the law and is not guaranteed. Smith Deputy Executive Director & Chief Financial Officer The Maryland Teachers’ and State Employees’ Supplemental Retirement Plans (MSRP) are administered by a board of trustees, as established in Title 35 of the State Personnel and Pensions Article. The available plans include: 457(b) Deferred Compensation Plan – tax-deferred, available to all State of Maryland employees, and also mySRPS is a secure platform for Maryland state employees to access retirement and pension system information online. What's New in 2025? Jul 1, 2025 · The State of Maryland provides the Maryland Teachers & State Employees Supplemental Retirement Plans as an employee benefit. to 4:30 p. Maryland State Archives MARYLAND TEACHERS & STATE EMPLOYEES SUPPLEMENTAL RETIREMENT PLANS BOARD OF TRUSTEESAppointed by Governor to 4-year terms: T. gov The System is employer-sponsored, and participation is a mandatory condition of employment. Ways to Contact Us Email info. Please note that representatives from MSRP and Nationwide will always identify themselves and all communications will come from either a Maryland. If that sounds like a bunch of alphabet soup you, no worries: We’re here to help sort it out. By monitoring, evaluating, and providing guidance on contract performance, OCO supports the effective use of public funds while promoting ethical practices and compliance with State procurement policies. You may send comments or questions to us by e-mail to info. (Note: see also the separate Investment Contract Pool (ICP) Investment Policy Public Records Requests Maryland’s Public Information Act (“PIA”) gives the public the right to access government records without unnecessary cost and delay. All DoIT content is filtered through Google Translate which may result in unexpected and Cares Act by Maryland State Employees Supplemental Retirement Plans Agency. These defined contribution plans are available for voluntary For information about any of the plan documents, please call the Maryland State Employees Supplemental Retirement Agency at 410-767-8740 or 1-800-543-5605. com All you need is your Payroll Type and 6-digit Agency Code Supplemental Retirement Plans (MSRP). The publicly available meeting agenda and instructions for registering as a visitor and MSRP provides supplemental retirement plans like 457(b), Roth 457(b), 401(k), Roth 401(k), 401(a), and 403(b) plans to help Maryland state employees save for their future. com address. Attend our webina Exciting Plan UpdateThe Match is Back! The instructions contained in this booklet summarize the major provisions of federal and State of Maryland tax rules applicable to your payment. m. You may contact us at 1-800-545-4730 to discuss whether your distribution may be subject to an early withdrawal penalty. Maryland State Jobs Translate Employees Education Public Information RFP's About Contact MISSION To enable State employees and teachers to participate in voluntary tax-sheltered income deferral, tax-deferred annuity, and profit-sharing and salary reduction savings plans that offer members tax advantages as provided in the Internal Revenue Code. . The Plans are a State-sponsored benefit (with almost 68,000 members strong!) that help u save to meet your retirement goals. This year’s cost-of-living rate is 2. Davis, Treasurer of Maryland Dereck E. , State Personnel and Pensions Article § 32-205(a) to require the State of Maryland to make contributions to the applicable State supplemental retirement plan employer in an amount equal to the lesser of participating employees’ payroll deferral/ contributions or $600 per fiscal year for State employees Nationwide’s retirement plans business is pleased to announce its continued partnership with the Maryland Teachers & State Employees Supplemental Retirement Plans (MSRP) deferred compensation plans for another five years, with a one-year renewal option. For Maryland State employees, the first such plan - a deferred Available to assist those MSRP participants who are within 5 years of being eligible for full retirement and throughout their retirement years. Learn about the plans, eligibility, contributions, and benefits. These plans can help bridge the gap between what you have in your pension and Social Security, and how much you’ll need in retirement. Aug 20, 2024 · BALTIMORE, MD — The Maryland State Retirement Agency and the system it operates, the Maryland State Retirement and Pension System (SRPS), recently earned national recognition for excellence in plan funding and administration. If you feel you have Welcome three Maryland Supplemental Retirement Plans (MSRP). The PIA applies to all three branches of Maryland state government as well as local government entities. gov Phone Our main line general communications. Change your voluntary contribution amounts. gov Open RFP's and other Procurements MSRP Maryland State Employees Supplemental Retirement Plans 410-767-8740 800-543-5605 MSRP 3rd Quarter 2024 Webinar Schedule and Registration All webinars are approximately 45 minutes in length Click on the links below to register for webinars! Supplemental retirement plans are voluntary plans that enable State employees and teachers to save for retirement and secure tax advantages. Pre-retirement planning events are currently being offered both as in-person seminars and as webinars. gov Federal income tax laws are complex and subject to change. Whichever choice you make, MSRP is proud to provide Maryland's State employees access to simple, cost-effective and professionally managed investment options for retirement planning. MSRP is an independent State agency that was established in 1974 to serve State of Maryland employees by offering them the optional retirement benefit of several defined contribution plans to help supplement the State pension benefit. Davis was elected and sworn in as the 24th Maryland State Treasurer in December,2021. gov. Site Security To ensure that msrp. Feb 4, 2025 · Honorable Chairpersons and members of the Committees, thank you for this opportunity to comment on the Maryland Supplemental Retirement Plans (“MSRP”) and respond to the comment raised in the Department of Legislative Service’s analysis. Benefits defined by a formula using salary history and service credit. The Maryland State Retirement and Pension System (MSRPS) is a defined benefit plan. Foster served as Secretary of the Maryland Department of Budget and Management and was ROTH Contribution Options If you have considered the possibility of a tax diversification strategy for your retirement investing, then MSRP now offers a welcome opportunity. Jobs Find all state job postings on the State of Maryland Job Seekers page . MSRP became N Maryland State Employees Supplemental Retirement PlansHow Request Public Record Agency Public Information Act request to the Board of Trustees of the Maryland State Employees Supplemental Retirement Plan should be sent directly to the agency's Public Information Act Representative as follows: Andrea L. gov is secure and remains available to all users, the Maryland Supplemental Retirement Plans employs commercial software programs to monitor network traffic to identify unauthorized attempts to upload or change information, or otherwise cause damage. msrp@maryland. MISSION To enable State employees and teachers to participate in voluntary tax-sheltered income deferral, tax-deferred annuity, and profit-sharing and salary reduction savings plans that offer members tax advantages as provided in the Internal Revenue Code. A lock icon ( ) or https:// means you’ve safely connected to the official website. System is responsible for all investment risk and portfolio management. Here's how you know a handwritten request to liquidate from the original MSRP account. Supplemental Retirement Accounts All employees (contractual and regular) are eligible to participate in any of the Supplemental Retirement Accounts (SRA) available through the University of Maryland. • Cost to participate is 0. Maryland State Employees Supplemental Retirement PlansMSRP's Plan Administrator is changing to Empower Retirement as of September 18, 2025 Please click here for important information. A . Here's how you know Nov 2, 2018 · To administer the survivor, disability, and retirement benefits of the System's participants. If that sounds like a bunch of alphabet soup to you, no worries, we’re here to help sort it out. MSRP offers tax-advantaged savings and retirement plans for state employees and teachers in Maryland. State employees who work within a State educational institutio are also eligi Yes, eligible employees must be enrolled in MSRP’s 457(b), 401(k), or 403(b) plans or an employing institutions’ 457(b), 401(k), or 403(b) plans (MSRP, TIAA or Fidelity Investments) and be deferring/contributing to the plan after July 1, 2023, to be eligible for the Match. ORGANIZATIONAL STRUCTURE MARYLAND TEACHERS & STATE EMPLOYEES SUPPLEMENTAL RETIREMENT PLANS BOARD OF TRUSTEES Appointed by Governor to 4-year terms: T. The earlier you enroll in your retirement plan, the more time your money will have a chance to grow. Her focus is on helping State employees retire The Maryland Supplemental Retirement Plans (MSRP) staff support the board of trustees’ work in selecting investment options and overseeing operations. All DoIT content is filtered through Google Translate which may result in unexpected and Maryland State Employees Supplemental Retirement PlansAn official website of the State of Maryland. Three plans are offered: the 457 (b)Deferred Compensation Plan, the 403 (b) Tax Deferred Annuity Plan, and the 401 (k) Savings A . This is the traditional approach-investing the whole dollar from your gross earnings instead of from your lesser take-home pay. Bell is responsible for the policy, direction, and operations of MSRP as well as general oversight of the Plan Administrator, Investment Advisor, and Stable Value Fund Manager. The Honorable T. She oversees and prepares MSRP’s annual budget, which is comprised of the 401 (k), 403 (b), 457 Maryland House Bill 982 was signed into law on April 24, 2023 and amended Md. Celia@nationwide. Access and manage your Maryland State Retirement and Pension System account securely through mySRPS. Additional information about this process is available at msrp. 12% of your account value a year, capped at $2,000 per year, plus 50 cents per month per account. These defined contribution plans are available for voluntary participation. The quarterly reports, which provide average annual returns, are sent to you with your Jul 1, 2023 · Maryland Supplemental Retirement Plans 6 Saint Paul Street - Suite 200 Baltimore, Maryland 21202-1608 Tel: 410-767-8740 or 1-800-543-5605 Website: MSRP. Investment contract poolThe Investment Contract Pool (ICP) is the “fixed” or “stable value” investment option available in the Maryland 457 (b), 401 (k) and 401 (a) plans. Income taxes on your contributions and earnings Contact - Maryland State Employees Supplemental Retirement PlansContact Days and Hours of Operation Monday - Friday 8:00 a. MSRP and Nationwide are aware of recent communications that are being sent by a third party to State of Maryland employees offering opportunities to discuss their Supplemental Retirement Account. Tax rules are complex and contain conditions and exceptions not included in these instructions. , Interim Executive Director & Secretary to Board of Trustees Jun 21, 2023 · If you are a member of the Maryland State Employees' Pension System, you can take advantage of this program by contributing to any USM Supplemental Retirement Account (SRA) administered by TIAA, Fidelity, or MSRP Nationwide. For over a decade Ms. Nationwide is the nation’s leading1 provider of public-sector retirement plans. 00 to hard-working state employees who participate in MD's supplemental retirement plans. State employees who work within a State educational institutio are also eligi The Maryland State Retirement and Pension System is a 401(a) defined benefit pension plan: sra. Paul Street, which is at the corner of St. Investment Options Active or Passive Managed Investment Options MSRP Investors who choose the traditional approach of determining their own investor profile and asset allocation plan may now implement their investment strategy using either active and/or passive investment managed options. You must begin distributions at age 73, unless you're still employed by the State and have not yet retired. The Investment Options Booklet provides a description of each investment option in the plans. MSRP ofers a variety of retirement plans for employees like you to put aside money from each paycheck toward retirement. Foster is Chair of the Board of Trustees of the Maryland State Employees Supplemental Retirement Plans. Each month an anticipated, but not guaranteed, rate is declared. A call-in line was provided for remote meeting attendees. xnqqn axktb fpga scqysbti trlqpf vxq zoxfxwu yflp ztuprb slbgdnj