The bill amends the North Dakota Century Code to enhance the public employees retirement system, particularly for public safety personnel. Key updates include a revised definition of "correctional officer," which now requires a minimum of thirty-two hours of work per week and twenty weeks per year for eligibility. New definitions for "dispatcher" and "emergency medical services personnel" are also introduced with similar employment criteria. Additionally, the bill specifies that individuals hired after the effective date will not be allowed to participate in any other retirement plans administered by the public employees retirement system. It also mandates the closure of the defined benefit main plan to new hires starting January 1, 2025, directing them to a defined contribution retirement plan instead.

Further changes include adjustments to contribution rates for various employee categories, such as national guard security officers, who will contribute six percent of their monthly salary, with a planned reduction starting in January 2016. The bill clarifies eligibility for prior service benefits and updates retirement date calculations and benefit structures for different employee categories. It also outlines the distribution of retirement account balances upon a member's death, establishing a hierarchy for beneficiaries and detailing options for surviving spouses. Overall, the bill aims to modernize retirement benefits and ensure they are adequately funded for public employees in North Dakota.

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