HB1486: Public employees retirement system retirement plan contribution rates upon reaching full funding; to provide an appropriation; to provide for a transfer; to provide for application; and to provide an effective date.

Legislative Summary

A BILL for an Act to create and enact sections 54-52-02.15, 54-52.2-09, 54-52.6-02.1, 54-52.6-05.1, 54-52.6-09.5, 54-52.6-09.6, and 54-52.6-22 of the North Dakota Century Code, relating to the closure of the public employees retirement system main plan, the deferred compensation program, and expansion of the defined contribution retirement plan; to amend and reenact section 6-09.4-10.1, paragraph 1 of subdivision a of subsection 1 of section 15-39.1-10.3, sections 21-10-13, 54-52-01, 54-52-02.5, 54-52-02.9, 54-52-02.11, and 54-52-02.12, subsection 2 of section 54-52-05, sections 54-52-06 and 54-52-14.3, subdivision b of subsection 1 of section 54-52-17.2, and sections 54-52.6-01, 54-52.6-02, 54-52.6-03, 54-52.6-05, 54-52.6-08, 54-52.6-09, 54-52.6-10, 54-52.6-13, 54-52.6-15, and 54-52.6-19 of the North Dakota Century Code, relating to a transfer from the legacy earnings fund to the public employees retirement system main plan and the public employees retirement system defined benefit and defined contribution retirement plans; to repeal section 54-52-06.5 of the North Dakota Century Code, relating to public employees retirement system retirement plan contribution rates upon reaching full funding; to provide an appropriation; to provide for a transfer; to provide for application; and to provide an effective date.