Benefits

403(b) Base Retirement Plan

The Base Retirement Plan (BRP) is available to regular MSU employees working at least half-time (50% or more) for at least nine continuous months. It is a defined contribution plan operated under section 403(b) of the Internal Revenue Code. It consists of an employee contribution of 5% of your annual base salary and, when eligible, a University matching contribution of 10% of your annual base salary – an immediate two for one match of your investment – for a total contribution of 15% of your annual base salary. Your 5% contribution is made on a tax-deferred basis. Since contributions are taken out before taxes, you pay less tax on your current taxable income. You do not pay taxes on either contributions or earnings until you begin receiving your retirement income from the plan. Since contributions are fully and immediately vested, you have full ownership of your account from day one.