SB 2046 - Teachers Retirement Fund - North Dakota Key Vote
Ben Vig voted Yea (Conference Report Vote) on this Legislation.
Timeline
- Executive Signed
- April 30, 2007
- Senate Conference Report Adopted
- April 20, 2007
- House Conference Report Adopted
- April 20, 2007
- Senate Nonconcurrence Vote Passed
- April 3, 2007
- House Bill Passed
- April 2, 2007
- Senate Bill Passed
- Feb. 7, 2007
- Introduced
- Jan. 3, 2007
Related Issues
Stage Details
Title: Teachers Retirement Fund
Signed by Governor John Hoeven
Title: Teachers Retirement Fund
Vote Smart's Synopsis:
Vote to adopt a conference report that increases the funds paid into the teachers pension fund by the state.
Highlights:
- Establishes a two-tiered system of benefits, placing teachers working before July 1, 2008 in the first tier and teachers working thereafter in the second tier [sec. 2]. - Increases the portion of the teachers pension fund paid by the school board from 7.75 percent of the teachers salary to 8.25 percent. Teachers will continue to contribute 7.75 percent of their salaries [sec. 3]. - Requires tier one members to teach for three years and tier two members to teach for five years in order to receive normal retirement benefits [sec. 4 (1)]. - Classifies teachers that withdraw from the fund and return after June 30, 2008 as tier two teachers regardless of previously earned credit [sec. 9].
Title: Teachers' Retirement Fund