Voya Financial (“Voya”) is the new recordkeeper for the Minnesota State Retirement System (MSRS) Plans effective July 1, 2025. As part of the MSRS Plan’s transition, you may have received a Health Care Savings Plan (HCSP) reimbursement confirmation that incorrectly categorized your plan payment as taxable and/or rollover eligible.
We want to assure you that HCSP reimbursements are not taxable and may not be rolled to another account. Tax forms will not be issued for reimbursements (exception: reimbursements to a non-spousal beneficiary are taxable).
The confirmations have been corrected. No action is required on your part.
Please accept our apologies for the confusion this situation may have caused.