ND HB1602

Political subdivision participation in the public employees retirement system, including the defined contribution retirement plan, is explicitly made optional rather than mandatory

Political subdivisions may withdraw from the defined contribution retirement plan without being assessed any fees or costs by the board

New eligible employees hired after December 31, 2024 with participating employers must join the defined contribution plan, while employees who joined the defined benefit plan before January 1, 2025 remain in that plan

Employees in specialized plans (law enforcement, judges, highway patrol, teachers' fund, university alternative retirement) are exempt from these provisions and may continue in their respective plans

Passed the House 72-18 and the Senate 46-0