MNDCP 457 plan overview

MNDCP is the district's designated provider for a 457(b) governmental deferred compensation plan.  This plan allows eligible employees to supplement any existing retirement or pension plans without reducing future pension or social security benefits.  Contributions are made through pre-tax payroll deduction and may be eligible for a district match (if in collective bargaining agreement). 

Minimum and Maximum Contributions

The minimum contribution is $10 per pay period.  The annual maximum contribution is determined by the IRS rules governing 457 plans.  For 2010, the standard employee contribution maximum is $16,500 with an additional $5,000 for employees over age 50. 

Steps to Participate

1. Contact MNDCP to request an enrollment kit (and/or speak with a representative).
2. Set up your MNDCP account by complete the enrollment form and beneficiary designation form in the packet and sending it to MNDCP
3. MNDCP will forward salary reduction agreement info to your employer for further processing.  Once this information is received, payroll will begin the payroll deductions and send the contributions to MNDCP.

 Contact Information

• Address:  60 Empire Drive #300, St Paul MN 55103-000
• Phone #:  1-877-457-6466 or 651-284-7723
• Website:  www.mndcplan.com

Forms

• Enrollment Form   
• Incoming Xfer Rollover Form   
• Personal Information Change Form   
• Beneficiary Designation Form