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ND SB2239
Bill
Status
2/22/2023
Primary Sponsor
Sean Cleary
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AI Summary
SB 2239 Summary
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Increases employee contributions to the Public Employees Retirement System (PERS) main system plan by 1% effective January 2024, raising the total from 7% to 8% of monthly salary or wage.
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Increases governmental unit employer contributions to the PERS main system plan on a level percent of compensation basis sufficient to meet normal costs plus amortize the unfunded accrued liability over 30.5 years beginning January 1, 2024, through June 30, 2054, with rates to be published biennially.
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Increases temporary employee and defined contribution plan participant contributions by 1% effective January 2024, with contributions to rise from 8.12% to 9.12% for temporary employees.
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Appropriates $250,000,000 from the general fund to the PERS main system plan on July 1, 2023, to reduce unfunded liability.
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Changes the eligibility deadline for new permanent state employees to participate in the defined contribution plan from September 30, 2001, to December 31, 2023, allowing employees hired after that date to elect into the plan within six months of employment; effective date January 1, 2024.
Legislative Description
Public employees retirement system main system plan employer and employee contribution rates and participation in the public employees retirement system defined contribution plan; to provide an appropriation; to provide for application; and to provide an effective date.
Last Action
Second reading, failed to pass, yeas 19 nays 74
4/25/2023