Effective January 1, 2020, eligible MSRS retirees and other benefit recipients will receive a 1% post-retirement pension benefit increase. Exceptions: Retirees covered under the Correctional Retirement Plan will receive a 1.5% increase. Retired judges will receive a 1.75% increase.
The post-retirement benefit increase is established in Minnesota law and occurs each January. The increase is prorated the first year after retirement and is based on the number of full months you were retired during the previous fiscal year, which ends June 30. After the initial prorated increase, you receive the full benefit increase amount in subsequent years.