Get the Facts
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About MSRP

You’ve probably heard of the different types of retirement plans: 457(b) Deferred Compensation, 401(k), 403(b), 401(a) and Roth 457 or Roth 401(k) Plan Account. As a State of Maryland employee, there are plans created specifically for you.

As the plan administrator for the Maryland Teachers and State Employees Supplemental Retirement Plan (MSRP), Nationwide® has worked with public sector employees for nearly 40 years, so we know the kinds of questions you may have about your plan. We’ll give you the tools and information to help you feel confident about investing for retirement. Keep in mind that investing involves market risk, including possible loss of principal, and there’s no guarantee that investment objectives will be achieved.

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MSRP offers a variety of retirement plans for employees like you to put aside money from each paycheck toward retirement. These plans can help bridge the gap between what you have in your pension and Social Security, and how much you’ll need in retirement. The available plans include:

What does tax-deferred mean?

Basically, you don’t pay income taxes on your plan contributions or earnings until you retire and/or begin to take payments from your account. This may lower your taxable income currently.

What does after-tax mean?

Unlike tax-deferred contributions, after-tax contributions are taxed before they are invested in your plan. Then the withdrawals that you take in retirement are tax-free, as long as certain conditions are met.

Can I combine retirement accounts?

Team MSRP Retirement Specialists will work with you to combine, or consolidate, your other eligible retirement accounts into your MRSP account. This may make managing your retirement investments a little easier.

Qualified retirement plans, deferred compensation plans and individual retirement accounts are all different, including fees and when you can access funds. Assets rolled over from your account(s) may be subject to surrender charges, other fees and/or a 10% tax penalty if withdrawn before age 59 ½. Neither Nationwide nor any of its representatives give legal or tax advice. Please contact your legal or tax advisor for such advice.

How much can I contribute to my plan?

Check out the current contribution limits.

Get the help you need

The sooner you enroll, the more you can possibly save. Take a look at the Enrollment Checklist to see what you’ll need to have handy and enroll today!

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There are three steps to participating in MSRP:

  1. Enroll in your plan – It’s easy to participate in MSRP. Contributions are automatically deducted from each paycheck and deposited to your account, so you don’t have to remember to write a check.

    Use the Paycheck Impact Calculator to see how saving pre-tax will affect your paycheck.

  2. Invest your money – You’ll choose funds from the list of investment options available within your plan. To see a quick overview, check out the plan comparison chart (PDF). Keep in mind, any investment involves risk and there’s no guarantee that any fund will achieve its investment objectives. But, we’re here to help.

    You'll pay any costs associated with your plan directly from your account balance. Learn about these costs.

    Use the My Investment Planner to get a personalized retirement strategy, including recommendations for your retirement income goal, savings rate and portfolio asset mix. You’ll need to enroll first and then set up online access to use this tool.

  3. Receive income – Many public employees retire earlier than those in the private sector, and if that’s the case, you’ll want to invest enough to live in retirement on your terms. Before you begin taking payments, review our Retirement Checklist to make sure you’re ready to transition from saving to spending.

    When you’re ready to receive income, these tips will help you do so wisely. Depending on the plan type you’re invested in, there may also be a 10% penalty on distributions prior to age 59½.

    Get more info on how to consolidate your retirement accounts to make managing money easier in retirement.

Get the help you need

The sooner you enroll, the more you can possibly save. Take a look at the Enrollment Checklist to see what you’ll need to have handy and enroll today!

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MSRP helps put you in control of when, where and how much you invest. And that’s just the beginning—here are three more reasons why it’s smart to participate.

1. You can start anytime

Your MSRP retirement plan will work for you whether you’re approaching retirement or just getting started.  But you’ll see...the sooner you start, the better for you later.

2. Every little bit helps

Even investing a little bit of money can really add up over time – By increasing your contributions on a regular basis, the overall impact to each paycheck may not seem too painful. Consider putting any raises or other increases into the plan – it's an easy way to invest a little more.

  • Take a look at how an investment could potentially grow over time.
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Current Age Amount Deferred Annual Investment Total Contribution Account Value at Age 65
30 $25 $650 $22,750 $93,084
30 $50 $1,300 $45,500 $186,169
30 $100 $2,600 $91,000 $372,338
30 $250 $6,500 $227,500 $930,844
30 $500 $13,000 $455,000 $1,861,688
40 $25 $650 $16,250 $42,590
40 $50 $1,300 $32,500 $85,180
40 $100 $2,600 $65,000 $170,360
40 $250 $6,500 $162,500 $425,899
40 $500 $13,000 $325,000 $851,799
50 $25 $650 $9,750 $16,921
50 $50 $1,300 $19,500 $33,842
50 $100 $2,600 $39,000 $67,684
50 $250 $6,500 $97,500 $169,211
50 $500 $13,000 $195,000 $338,422

Chart assumptions: Bi-weekly deferrals, 25% tax rate for paycheck impact, 7% annual rate of return. This hypothetical illustration is not intended to predict or project investment results. It does not assume taxes, fees or account withdrawals during accumulation; if it did, results would be lower. This chart is not intended to project the performance of your deferred compensation account. Investments involve risk including possible loss of principal. Actual investment results will vary depending on your investments and market experience. Income stream durations and amounts are not guaranteed.

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3. You'll get service you can count on

Team MSRP is ready and willing to answer your questions. We’ve been helping Maryland public employees save for retirement for almost 40 years and our Team MSRP Retirement Specialists have helped educate thousands of employees about investing through their retirement plans. Feel free to call today — we don’t charge a fee to work with a Retirement Specialist.

Read more about why MSRP is right for you.

Get the help you need

The sooner you enroll, the more you can possibly save. Take a look at the Enrollment Checklist for tips on the information you'll need to have handy and enroll today.

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As a participant in MSRP, you’ll have access to a wide range of investment options. Your investment options were selected by Team MSRP and can help meet your retirement planning needs. Keep in mind that investing involves market risk, including possible loss of principal. As you get started in the plan, we’ll help you understand market risk and strategies that may help you deal with it.

To view the fund profiles and prospectuses click the View fund performance button. Complete the two steps to view additional information about your funds.

View fund performance

View quarterly fund performance (PDF)

Understand your options

The investment choices available to you fall into five major asset classes:

  • Risk-based funds
  • Time-based funds
  • Stock funds
  • Bond funds
  • Short-term investments

There are four classes of stock funds we offer:

  • International stock
  • Small-cap stock
  • Mid-cap stock
  • Large-cap stock

Get the help you need

Talk to a Team MSRP Retirement Specialist about your investment options or learn more about how to choose funds. Information provided by Retirement Specialists is for educational purposes only and is not intended as investment advice.

View fund performance

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It only takes a few minutes to sign up. Here are some things you'll need:

  • Your employer agency’s name or agency’s ID (on your paystub, or from your personnel officer)Your Social Security number
  • Your annual income
  • Contribution amount
  • Investment selections
  • Beneficiary names and Social Security numbers

Start Enrollment Now

Learn how to fill out a paper enrollment form

Get paper enrollment form

Get the help you need

We'll even walk you through it. If you need more help, contact one of our Team MSRP Retirement Specialists.

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