The bill amends the North Dakota Century Code to update the membership criteria and definitions for the public employees retirement system, particularly for the public safety retirement plan. Key changes include redefining "correctional officer" and "firefighter" to require employment of at least thirty-two hours per week for a minimum of twenty weeks each year to qualify. It also establishes that new employees hired after the bill's effective date cannot participate concurrently in any other retirement plan administered by the public employees retirement system. Additionally, the bill closes the defined benefit main plan to new eligible employees starting January 1, 2025, directing them to a defined contribution retirement plan instead.

Further amendments adjust contribution rates for peace officers and correctional officers, revise eligibility criteria for prior service benefits, and update the retirement benefits calculation method to align with recent employment records. The bill also sets the normal retirement date for national guard security officers, firefighters, peace officers, and correctional officers to the first day of the month following their 55th birthday after three years of eligible employment. It introduces a requirement for peace officers hired after July 31, 2023, to complete ten years of eligible employment for normal retirement. Overall, the bill aims to streamline the retirement system for public safety employees while ensuring clarity in eligibility and benefit calculations.

Statutes affected:
INTRODUCED: 54-52-01, 54-52-02.15, 54-52-06.4, 54-52-17
Adopted by the House Government and Veterans Affairs Committee: 54-52-01, 54-52-02.15, 54-52-06.4, 54-52-17
FIRST ENGROSSMENT: 54-52-01, 54-52-02.15, 54-52-06.4, 54-52-17
Adopted by the Senate State and Local Government Committee: 54-52-01, 54-52-02.15, 54-52-06.4, 54-52-17
Enrollment: 54-52-01, 54-52-02.15, 54-52-06.4, 54-52-17