ND HB1234

Transfers $25,000,000 from the strategic investment and improvements fund to the public employees retirement system fund during the 2025-27 biennium (July 1, 2025 - June 30, 2027)

Funds designated to reduce the unfunded liability of the public employees retirement system main system defined benefit plan

Legislature intends for PERS to combine this $25 million with an additional $65 million projected to be deposited from oil extraction tax revenues (section 57-51.1-07.5) for a total of $90 million toward unfunded liability reduction

These state transfers are intended to replace the additional actuarially determined employer contribution rates that would otherwise be charged to state governmental units during the 2025-27 biennium

Passed unanimously in both chambers: House 91-0, Senate 46-0