INDIVIDUAL RETIREMENT ACCOUNT PLAN (IRAP)

See also HIGHER EDUCATION SUPPLEMENTAL RETIREMENT PLAN

Accounting and bookkeeping

Financial and actuarial reporting practices, Minn. Statutes 2026 16A.055

Refund repayments, Minn. Statutes 2026 356.441

Actuarial valuations, copies, Minn. Statutes 2026 356A.07

Administration

Costs, payment, Minn. Statutes 2026 354B.25

Minnesota Historical Society, duties, Minn. Statutes 2026 354D.06, 354D.08

Minnesota State Colleges and Universities Board of Trustees, duties, Minn. Statutes 2026 136F.47, 354B.25, 354D.06

Annuities

Annuity contracts, Minn. Statutes 2026 354B.24, 354D.08

Assignment, Minn. Statutes 2026 354B.30

Automatic deposit, Minn. Statutes 2026 356.401

Creditors remedies, use prohibited, Minn. Statutes 2026 354B.30

Custodial accounts, Minn. Statutes 2026 354B.24, 354D.08

Qualified annuities, using for refund repayments, Minn. Statutes 2026 356.441

Assets, Minn. Statutes 2026 356.63, 356A.06

Assignments, annuities or benefits, Minn. Statutes 2026 354B.30

Attachment, annuities or benefits, exemption, Minn. Statutes 2026 354B.30

Benefits

Assignment, Minn. Statutes 2026 354B.30

Automatic deposit, Minn. Statutes 2026 356.401

Beginning date of distribution, Minn. Statutes 2026 356.635

Benefit provisions summary, Minn. Statutes 2026 356A.07

Creditors remedies, use prohibited, Minn. Statutes 2026 354B.30

Definitions, Minn. Statutes 2026 356.633, 356A.01

Distribution, notice, Minn. Statutes 2026 356.001

Eligible rollover distributions, Minn. Statutes 2026 356.633

Federal benefit limits, Minn. Statutes 2026 356.612

Fiduciaries, duties, Minn. Statutes 2026 356A.02

Internal Revenue Code compliance, Minn. Statutes 2026 356.612, 356.633

Ownership, Minn. Statutes 2026 354B.25, 354D.08

Required minimum distributions, death of participant, Minn. Statutes 2026 356.635

Subpoena authority, Minn. Statutes 2026 356.401

Breach of fiduciary duty

Cofiduciaries, liability, Minn. Statutes 2026 356A.10

Generally, Minn. Statutes 2026 356A.09

Indemnification, Minn. Statutes 2026 356A.11

Lawsuits, Minn. Statutes 2026 356A.12

Certificates and certification, economic interest statements, list of filings, Minn. Statutes 2026 356A.06

Cofiduciaries

Duties, generally, Minn. Statutes 2026 356A.10

Service of process on, Minn. Statutes 2026 356A.12

Compensation and salaries

Covered salary, Minn. Statutes 2026 354B.20

Fiduciaries, Minn. Statutes 2026 356A.06, 356A.08

Part-time teacher mobility program, Minn. Statutes 2026 354B.31

Contested cases, adverse determination of eligibility, benefits, or other rights, Minn. Statutes 2026 356A.07

Continuing education, fiduciaries, Minn. Statutes 2026 356A.13

Contracts and agreements

Financial institutions, investments, approval, Minn. Statutes 2026 354D.08

Professional or technical service contracts, exclusion, Minn. Statutes 2026 16C.08

Copies, plan documents, summaries, and reports, Minn. Statutes 2026 356A.07

Covered employment

Definitions, Minn. Statutes 2026 354B.20, 354D.01

Generally, Minn. Statutes 2026 354B.211

Covered persons, see Participants under this topic

Creditors remedies, annuities or benefits, use prohibited, Minn. Statutes 2026 354B.30

Custodian bank accounts, establishment, Minn. Statutes 2026 356.001

Data, access, marriage dissolution actions, Minn. Statutes 2026 356.49

Death of participant, required minimum distributions, Minn. Statutes 2026 356.635

Dedicated fund, uses, Minn. Statutes 2026 356.63

Default coverage, Minn. Statutes 2026 354B.211

Deferred annuities, former Teachers Retirement Association members, Minn. Statutes 2026 354B.26

Definitions

Generally, Minn. Statutes 2026 354B.20, 354D.01

Internal Revenue Code compliance, Minn. Statutes 2026 356.633

Loss of survivor benefits, Minn. Statutes 2026 356.406

Public pension fiduciary responsibility, Minn. Statutes 2026 356A.01, 356A.06

Depositories, designation, Minn. Statutes 2026 356A.06

Disclosure, fiduciaries, Minn. Statutes 2026 356A.03, 356A.06

Dissolution of marriage, retirement benefits or rights, information regarding, Minn. Statutes 2026 356.49

Division of plan, based on election or nonelection of Social Security coverage, Minn. Statutes 2026 355.091

Economic interest statements, fiduciaries, Minn. Statutes 2026 356A.06

Election of participation

Appointees, acting, interim, or temporary, Minn. Statutes 2026 354B.211

Arts Board employees, Minn. Statutes 2026 354D.02, 354D.04

Humanities Center employees, Minn. Statutes 2026 354D.02, 354D.04

Minnesota Historical Society employees, Minn. Statutes 2026 354D.02, 354D.04

Minnesota State Retirement System members, Minn. Statutes 2026 352.021

Technical colleges faculty, Minn. Statutes 2026 354B.211

Timeliness, Minn. Statutes 2026 354B.211

Employee contributions

Exemptions and exceptions, Minn. Statutes 2026 356.401

Federal compensation limits, Minn. Statutes 2026 356.611

Salary savings leave, effect, Minn. Statutes 2026 43A.49

Employees of the retirement plan, indemnification, breach of fiduciary duty, Minn. Statutes 2026 356A.11

Employer contributions

Additional contributions, Minn. Statutes 2026 354B.24

Arts Board employees, Minn. Statutes 2026 354D.05

Exemptions and exceptions, Minn. Statutes 2026 356.401

Generally, Minn. Statutes 2026 354B.23

Humanities Center employees, Minn. Statutes 2026 354D.05

Minnesota Historical Society employees, Minn. Statutes 2026 354D.05

Part-time teacher mobility program, Minn. Statutes 2026 354B.31

Sabbatical leave, Minn. Statutes 2026 354B.24

Employers

Benefit provision summaries, duties, Minn. Statutes 2026 356A.07

Contributions, see Employer contributions under this topic

Dissolution, allocation of receivables, Minn. Statutes 2026 356.98

Duties, Minn. Statutes 2026 356.001

Employing units

Contributions, see Employer contributions under this topic

Defined, Minn. Statutes 2026 354B.20

Establishment, Minn. Statutes 2026 356.24

Exclusions from coverage, Minn. Statutes 2026 354B.20

Execution (creditors remedies), annuities or benefits, exemption, Minn. Statutes 2026 354B.30

Fees, administrative expenses, Minn. Statutes 2026 354B.25

Fiduciaries

Activities, generally, Minn. Statutes 2026 356A.02

Assets, title, Minn. Statutes 2026 356A.06

Breach of conduct or duties, Minn. Statutes 2026 356A.09 to 356A.12

Compensation and salaries, Minn. Statutes 2026 356A.06, 356A.08

Continuing education, Minn. Statutes 2026 356A.13

Definitions, Minn. Statutes 2026 356A.01

Direct or indirect profits, Minn. Statutes 2026 356A.06

Disclosure, Minn. Statutes 2026 356A.03, 356A.06

Duties, Minn. Statutes 2026 356A.02, 356A.04, 356A.05

Economic interest statements, Minn. Statutes 2026 356A.06

Felony violations, documentation, service prohibition, Minn. Statutes 2026 356A.03

Generally, Minn. Statutes 2026 356A.01 to 356A.13

Investments, duties, Minn. Statutes 2026 356A.02, 356A.06

Nonliability, self-directed investments by participants, Minn. Statutes 2026 356A.06

Prohibited transactions, Minn. Statutes 2026 356A.06

Service of process on, Minn. Statutes 2026 356A.12

Standard of conduct, Minn. Statutes 2026 356A.04

Financial reports, copies, distribution, Minn. Statutes 2026 356.20, 356A.07

Forfeitures, limitations, Minn. Statutes 2026 356.614

Former participants, marriage dissolution actions, information requirements, Minn. Statutes 2026 356.49

Funds and accounts

Dedicated fund, Minn. Statutes 2026 356.63

Theft or embezzlement from, reporting by employees, Minn. Statutes 2026 609.456

Garnishment, annuities or benefits, exemption, Minn. Statutes 2026 354B.30

Governing board, see Board of trustees under MINNESOTA STATE COLLEGES AND UNIVERSITIES SYSTEM (MNSCU)

Governing body rules and policies, defined as plan documents, Minn. Statutes 2026 356A.01

Information services, Minn. Statutes 2026 356.97

Interest rates, omitted deductions, Minn. Statutes 2026 354B.23

Investment of funds

Fiduciaries, duties, Minn. Statutes 2026 356A.02, 356A.06

Financial institutions, selection, review, Minn. Statutes 2026 354B.25, 354D.08

Investment products, Minn. Statutes 2026 354B.25

Participant investment responsibility, Minn. Statutes 2026 356.646

Reports about, Minn. Statutes 2026 356.219

Requirements, generally, Minn. Statutes 2026 356A.06

Lawsuits, breach of fiduciary duty, Minn. Statutes 2026 356A.12

Leaves of absence, sabbatical leave, Minn. Statutes 2026 354B.24

Liability, cofiduciaries, Minn. Statutes 2026 356A.10

Loans by, Minn. Statutes 2026 354B.30

Mail and mailing

Benefit distribution notice, Minn. Statutes 2026 356.001

Retirement annuities, information, applications, Minn. Statutes 2026 356.46

Member contributions

Additional contributions, Minn. Statutes 2026 354B.24

Arts Board employees, Minn. Statutes 2026 354D.05

Generally, Minn. Statutes 2026 354B.23

Humanities Center employees, Minn. Statutes 2026 354D.05

Minnesota Historical Society employees, Minn. Statutes 2026 354D.05

Minnesota State Retirement System refunds, transfer to, Minn. Statutes 2026 354D.07

Part-time teacher mobility program, Minn. Statutes 2026 354B.31

Sabbatical leave, Minn. Statutes 2026 354B.24

Members, see Participants under this topic

Military service credit, Internal Revenue Code compliance, Minn. Statutes 2026 356.638

Offset amount, Minn. Statutes 2026 354B.20

Participants

Benefit distribution upon plan termination, Minn. Statutes 2026 356.001

Contributions, see Member contributions under this topic

Death caused by surviving beneficiary, loss of survivor benefits, Minn. Statutes 2026 356.406

Definitions, Minn. Statutes 2026 354B.20, 356.406, 356A.01

Employment condition, Minn. Statutes 2026 354B.22

Marriage dissolution actions, information requirements, Minn. Statutes 2026 356.49

Payments by, administration expenses, Minn. Statutes 2026 354B.25, 354D.08

Proof of death, notice received, Minn. Statutes 2026 356.001

Reemployed first class city Teachers Retirement Association retirees, ineligibility, Minn. Statutes 2026 354A.31

Reemployed retired teachers, ineligibility, Minn. Statutes 2026 352.1155, 354.445

Reports received, Minn. Statutes 2026 356.20, 356A.07

Retirees, insurance benefits, purchase, Minn. Statutes 2026 43A.27

Self-directed investments, nonliability of fiduciaries, Minn. Statutes 2026 356A.06

Payments by

Allowable expenses, Minn. Statutes 2026 356.001

Benefit distribution upon plan termination, Minn. Statutes 2026 356.001

Fiduciaries, duties, Minn. Statutes 2026 356A.02

Payroll deductions

Member contributions, Minn. Statutes 2026 354B.23, 354B.24

Omitted deductions, Minn. Statutes 2026 354B.23

Plan documents, copies to members, Minn. Statutes 2026 356A.07

Prior service credit

Purchase procedures, strike periods, Minn. Statutes 2026 356.195

Purchases, Minn. Statutes 2026 356.551

Purpose, Minn. Statutes 2026 356.001

Records and record keeping

Fiduciaries, duties, Minn. Statutes 2026 356A.02

Investments, liquidity documentation, Minn. Statutes 2026 356A.06

Refunds

Automatic deposit, Minn. Statutes 2026 356.401

Excess administrative expenses, Minn. Statutes 2026 354B.25, 354D.08

Repayment to, Minn. Statutes 2026 356.441

Reports given

Administrative expenses, Minn. Statutes 2026 354B.25

Investment of funds, Minn. Statutes 2026 356.219

Marriage dissolution actions, pension benefits or rights, Minn. Statutes 2026 356.49

Retirement annuities, Minn. Statutes 2026 356.46

Retirement plan alternatives, see Election of participation under this topic

Sabbatical leave, Minn. Statutes 2026 354B.20, 354B.24

Salary, see Compensation and salaries under this topic

Salary savings leave, effect, Minn. Statutes 2026 43A.49

Service credit, salary savings leave, effect, Minn. Statutes 2026 43A.49

Social Security

Coverage, eligibility, Minn. Statutes 2026 354B.22

Teachers Retirement Association members, Minn. Statutes 2026 354.05, 354B.22

Spouses, retirement annuities, Minn. Statutes 2026 356.46

Statutes of limitations, breach of fiduciary duty, Minn. Statutes 2026 356A.12

Subpoenas, overpayment of benefits, Minn. Statutes 2026 356.401

Supplemental investment fund, investment options, Minn. Statutes 2026 354B.25

Survivor benefits

Generally, Minn. Statutes 2026 356.406

Overpayment of benefits, subpoenas, Minn. Statutes 2026 356.401

Termination of plan or fund, Minn. Statutes 2026 356.001

Theft or embezzlement from, reporting by employees, Minn. Statutes 2026 609.456

Transfer of coverage, technical colleges faculty, effect, Minn. Statutes 2026 354B.211

Transfer of funds, Teachers Retirement Association

Transfers from, Minn. Statutes 2026 354B.23

Transfers to, Minn. Statutes 2026 354B.215

Unclaimed plan account amounts, Minn. Statutes 2026 354B.20, 354B.25