This bill proposes the creation of a new section in chapter 54-52.2 of the North Dakota Century Code, which addresses the payment of administrative expenses for the public employees retirement system's deferred compensation plan. It establishes that participating members will be responsible for covering these administrative expenses as determined by the board overseeing the plan. The board, or a vendor it retains, is authorized to charge reasonable administrative expenses and deduct them from the members' accounts. Additionally, the board may utilize fines and fees collected from vendors to cover these expenses and is required to deposit all related funds into an administrative expenses account managed by the state treasurer.

Furthermore, the bill allows the board to use funds from both the payroll clearing account and the newly established administrative expenses account to pay for consulting expenses necessary for the plan's administration. It ensures that all money in these accounts is continuously appropriated to the board for this purpose, thereby facilitating ongoing financial support for the management of the deferred compensation plan.