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ND SB2042
Bill
Status
1/5/2021
Primary Sponsor
Government and Veterans Affairs Committee
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AI Summary
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Increases temporary employee contributions to the Public Employees Retirement System by 5.12% starting January 2022, in addition to previous increases of 2% each in 2012, 2013, and 2014.
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Increases governmental unit employer contributions by 5.12% starting January 2022, with an additional 1.14% increase for members first enrolled after December 31, 2019.
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Applies the same contribution increases (5.12% beginning January 2022) to temporary employees participating in the defined contribution retirement plan.
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Increases employer contributions to the defined contribution plan by 5.12% starting January 2022, plus 1.14% for members first enrolled after December 31, 2019.
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Imposes civil penalties of $50 and 1% monthly interest on employers who fail to pay contributions monthly, though penalties may be waived if paid within 90 days of the due date.
Legislative Description
Increased employer and employee contributions under the public employees retirement system defined benefit and defined contribution plans; and to provide a penalty.
Last Action
Second reading, failed to pass, yeas 1 nays 46
2/19/2021