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120 chapters · 536 sections in this title.
N.D.C.C. § 15-39.1-01 Teachers' fund for retirement created
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There is hereby created the teachers' fund for retirement, which, upon the effective date of this chapter shall consist of the following: 1. All moneys contained in the teachers' insurance and retirement fund accumulated pursuant to chapter 15-39; and 2. All moneys thereafter rec…
N.D.C.C. § 15-39.1-02 Prior fund terminated
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The teachers' insurance and retirement fund shall, on July 1, 1971, cease to exist and the board administering said fund shall no longer function. All obligations of the teachers' insurance and retirement fund must be assumed by the newly created fund.
N.D.C.C. § 15-39.1-03 Rights under prior chapter preserved
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No person may be caused to be deprived of rights vested under the chapter superseded hereby. Any such person may elect to claim the person's retirement benefits according to the provisions of the retirement program for teachers in effect prior to July 1, 1971.
N.D.C.C. § 15-39.1-04 Definitions
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For purposes of this chapter, unless the context or subject matter otherwise requires: 1. "Actuarial equivalent" means the amount calculated to be of equal actuarial value to the benefit otherwise payable when computed on the basis of actuarial assumptions and methods adopted by …
