The bill amends subsection 4 of section 15-39.1-10 of the North Dakota Century Code, which pertains to the eligibility for normal retirement benefits. The key change involves the deletion of specific age thresholds for members regarding their required beginning date for retirement benefits. Previously, members who reached age seventy and one-half before January 1, 2020, had different requirements compared to those who reached the same age after that date. The bill removes these age distinctions and instead establishes a uniform required beginning date for all members who attain age seventy-two.

Additionally, the bill introduces a new requirement that payments must be made in accordance with section 401(a)(9) of the Internal Revenue Code, as amended, and the regulations applicable to governmental plans. This insertion ensures that the payment of minimum distributions aligns with federal guidelines, thereby standardizing the retirement benefit process for members.

Statutes affected:
PREFILED: 15-39.1-10
Enrollment: 15-39.1-10
INTRODUCED: 15-39.1-10