ND HB1041

Amends penalty provisions for governmental units that fail to pay retirement system contributions monthly, adding language that covers failures to comply with wage or payroll reporting process requirements established by the board.

Establishes a civil penalty of fifty dollars plus one percent monthly interest on delinquent contributions, with an alternative option to assess interest at the actuarial rate of return instead.

Allows waiver of penalties and interest if contributions are paid within ninety days of the due date.

Applies the same penalty structure to state contributions for the uniform group insurance program under section 54-52.1-06.

Applies the same penalty structure to employer contributions in the defined contribution retirement plan under section 54-52.6-09.