Voya Financial (“Voya”) is the new recordkeeper for the Minnesota State Retirement System (MSRS) Plans. 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 no tax forms will be issued for these distributions.
Voya has prioritized correcting the verbiage on future confirmations. If you receive another incorrect confirmation in the coming months, please disregard it.
No action is required on your part.
Please accept our sincere apologies for the confusion this situation may have caused.
*If you have a non-spousal beneficiary account, the reimbursement is taxable.