The bill amends the North Dakota Century Code to enhance the public employees retirement system, particularly the public safety retirement plan. Key updates include a revised definition of "correctional officer," which now requires individuals to be employed for at least thirty-two hours per week and twenty weeks each year to qualify. New definitions for "dispatcher" and "emergency medical services personnel" are also introduced with similar employment criteria. Additionally, the bill establishes that individuals starting employment after the effective date will not be allowed to participate in any other retirement plan administered by the public employees retirement system. Furthermore, it mandates the closure of the defined benefit main plan to new hires effective January 1, 2025, requiring them to enroll in a defined contribution retirement plan instead.
The bill also revises eligibility criteria for retirement benefits, specifying that individuals must be continuously employed for at least two years before becoming eligible for prior service benefits. It updates definitions related to retirement dates and outlines the calculation of retirement benefits based on final average salary and years of service. Additionally, the bill details the procedures for distributing a member's retirement account balance upon their death, establishing a hierarchy of beneficiaries and options for surviving spouses regarding payment forms. Overall, the amendments aim to clarify the retirement benefits structure, align contributions with service status, and streamline processes related to retirement benefits and beneficiary designations.
Statutes affected: INTRODUCED: 54-52-01, 54-52-02.1, 54-52-02.15, 54-52-06.3, 54-52-06.4, 54-52-17
Adopted by the Senate State and Local Government Committee: 54-52-01, 54-52-02.1, 54-52-02.15, 54-52-06.3, 54-52-06.4, 54-52-17
Enrollment: 54-52-01, 54-52-02.1, 54-52-02.15, 54-52-06.3, 54-52-06.4, 54-52-17