Signed by Governor Doug Burgum

Vote Smart's Synopsis:

Vote to concur with senate amendments and final pass a bill that prohibits new hires from joining the state pension plan beginning in 2025.

Highlights:

• Defines “deferred members” (Sec. 1). 

• Requires that elected or appointed state officials already be members of the state retirement plan in order to remain on the plan (Sec. 3). 

• Authorizes temporary employees to contribute to the state plan if they elect to do so (Sec. 4). 

• Specifies requirements for non-state employees to be eligible for the state retirement plan (Sec. 5). 

• Prohibits new hires from joining the state pension plan beginning in 2025 (Sec. 7). 

• Specifies the amount that each governmental unit shall supply to the plan (Sec. 10). 

• Establishes a funding matching program for employees who have chosen not to pay 3% of wages (Sec. 13). 

• Defines “Temporary Employee” (Sec. 14). 

• Specifies that participation in any program described in this act is optional (Sec. 16). 

• Defines the board's duties when selecting annuity providers (Sec. 20).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that prohibits new hires from joining the state pension plan beginning in 2025.

Highlights:

• Defines “deferred members” (Sec. 1). 

• Requires that elected or appointed state officials already be members of the state retirement plan in order to remain on the plan (Sec. 3). 

• Authorizes temporary employees to contribute to the state plan if they elect to do so (Sec. 4). 

• Specifies requirements for non-state employees to be eligible for the state retirement plan (Sec. 5). 

• Prohibits new hires from joining the state pension plan beginning in 2025 (Sec. 7). 

• Specifies the amount that each governmental unit shall supply to the plan (Sec. 10). 

• Establishes a funding matching program for employees who have chosen not to pay 3% of wages (Sec. 13). 

• Defines “Temporary Employee” (Sec. 14). 

• Specifies that participation in any program described in this act is optional (Sec. 16). 

• Defines the board's duties when selecting annuity providers (Sec. 20).

Full Bill Text