ND SB2045

Participating members of the Public Employees Retirement System deferred compensation plan shall pay administrative expenses in a manner determined by the board.

The board or contracted vendors may charge reasonable administrative expenses and deduct them directly from participating members' accounts.

The board may also fund administrative expenses from vendor fines and fees collected, which must be deposited in an administrative expenses account with the state treasurer.

The board may use funds from the payroll clearing account and administrative expenses account to pay for consulting expenses required to administer the plan.

All money in the payroll clearing account and administrative expenses account is appropriated to the board on a continuing basis for retaining a consultant.