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ND HB1342
Bill
Status
1/14/2021
Primary Sponsor
Mike Lefor
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AI Summary
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Increases temporary employee contributions to the public employees retirement system from 8% to 12.12% of monthly salary, with a 2% additional increase effective January 2022.
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Increases member contributions in the defined benefit plan from 4% to 6% of monthly salary, with a 1% additional increase effective January 2022.
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Increases governmental unit (employer) contributions in the defined benefit plan from 4% to 6.12% of monthly salary, with a 1% additional increase effective January 2022.
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Increases member and employer contributions in the defined contribution plan from 4% to 6% and 4% to 6.12% respectively, with 1% additional increases effective January 2022.
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Appropriates $24,000,000 from the general fund to be transferred to the public employees retirement system fund on July 1, 2021, with funds derived from legacy fund earnings.
Legislative Description
Increased employer and employee contributions under the public employees retirement system defined benefit and defined contribution plans; to provide an appropriation; and to provide a statement of legislative intent.
Last Action
Second reading, failed to pass, yeas 37 nays 57
2/23/2021