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Agenda - Council Work Session - 08/25/2026
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Agenda - Council Work Session - 08/25/2026
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8/24/2026 9:58:40 AM
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8/20/2026 4:17:51 PM
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Meetings
Meeting Document Type
Agenda
Meeting Type
Council Work Session
Document Date
08/25/2026
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Introduction <br />The Health Care Savings Plan (HCSP) is an employer -sponsored program administered <br />by the Minnesota State Retirement System (MSRS) that allows employees to save <br />money for reimbursement of post -employment medical and dental expenses and/or <br />health insurance premiums. Contributions are made by Minnesota public employers to a <br />trust on behalf of its employees. Amounts credited to an employee's account can be <br />used to reimburse eligible healthcare expenses after the employee terminates <br />employment from public service or in other limited circumstances. <br />Participants may choose from the available investment options provided by the <br />Minnesota State Board of Investment (SBI). It is intended that assets in the program <br />accumulate tax-free, and are paid out to Participants on a tax-free basis for <br />reimbursement of eligible healthcare expenses (in accordance with IRS Publication 502 <br />and Internal Revenue Code 213(d)). <br />Plan Sponsor And Trustees The Board of Directors of the Minnesota State <br />Retirement System <br />60 Empire Drive, Suite 300 St. Paul <br />M N 55103 <br />651-296-2761 <br />Plan Administrator Information The Executive Director <br />Minnesota State Retirement System 60 <br />Empire Drive, Suite 300 <br />St. Paul, MN 55103 651-296-2761 <br />Name of Plan Health Care Savings Plan (HCSP) <br />Plan Custodian <br />Voya Institutional Trust Company <br />One Orange Way <br />Windsor, CT 06095-4774 <br />Plan Recordkeeper <br />Voya Institutional Plan Services, LLC <br />One Orange Way <br />Windsor, CT 06095 <br />HCSP Plan Document <br />July 1, 2026 <br />3 <br />
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