Title 54 — State Government
128 chapters · 1,241 sections in this title.
N.D.C.C. § 54-52.6-01 Definition of terms
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As used in this chapter, unless the context otherwise requires: 1. "Board" means the public employees retirement system board. 2. "Deferred member" means an individual who elected to receive deferred vested retirement benefits under chapter 54-52. 3. "Eligible employee", for empl…
N.D.C.C. § 54-52.6-02 Election through December 31, 2024
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1. The board shall provide an opportunity for each eligible employee who is a member of the public employees retirement system on September 30, 2001, and who has not made a written election under this section to transfer to the defined contribution retirement plan before October …
N.D.C.C. § 54-52.6-02.1 Participation in defined contribution retirement plan
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1. Except as otherwise provided under section 54-52-02.5 or 54-52-02.15 or this chapter, effective January 1, 2025, an eligible employee who is first enrolled shall participate in the defined contribution retirement plan under this chapter. 2. A temporary employee may elect to pa…
N.D.C.C. § 54-52.6-02.2 Election after December 31, 2024 - Additional employer contribution
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(Retroactive application - See note) 1. As used in this section, "eligible employee" means a permanent employee of a state entity that as of January 1, 2025, receives budgetary approval from the legislative assembly, who on December 31, 2024, is a participating member of the publ…
N.D.C.C. § 54-52.6-03 Transfer of accumulated fund balances
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1. For an individual who elects under section 54-52.6-02 to terminate membership in the public employees retirement system under chapter 54-52, the board shall transfer a lump sum amount from the retirement fund to the participating member's account in the defined contribution re…
N.D.C.C. § 54-52.6-03.1 Changes to election
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1. In this section the term "participating member" is limited in application to a participating member who elected to participate in the defined contribution retirement plan established under this chapter as an active employee of a participating employer, is an actively participa…
N.D.C.C. § 54-52.6-04 Administration
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The board shall administer the defined contribution retirement plan established under this chapter and the board or vendors contracted for by the board shall invest the assets of the plan. The board is the fiduciary and the trustee of the plan. The board has the exclusive authori…
N.D.C.C. § 54-52.6-05 Direction of investments
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1. Each participating member shall direct the investment of the individual's accumulated employer and employee contributions and earnings to one or more investment choices within available categories of investment provided by the board. 2. The board shall provide an investment me…
N.D.C.C. § 54-52.6-05.1 Annuity provider - Qualifications
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1. The board shall select one or more annuity providers to provide the annuity options under this chapter. 2. In selecting an annuity provider under this section, the board shall: a. Determine whether the annuity provider and the provider's subsidiaries and affiliates have approp…
N.D.C.C. § 54-52.6-06 Administrative expenses - Continuing appropriation
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Participating members shall pay the administrative expenses of the plan in a manner determined by the board. The board, or vendors contracted for by the board, may charge reasonable administrative expenses and deduct those expenses from a participating member's account in the def…
N.D.C.C. § 54-52.6-07 Participation in other plans
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A participating member may not participate in any other public sector retirement benefits plan for simultaneous service rendered to the same public sector employer. However, this section does not prohibit a participating member from participating in a retirement plan established …
N.D.C.C. § 54-52.6-08 Credit of transfers
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The board promptly shall credit the plan account of a participating member who makes an election under section 54-52.6-02 to terminate membership in the public employees retirement system under chapter 54-52 with any amount transferred from the public employees retirement system.
N.D.C.C. § 54-52.6-09 Contributions - Penalty
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1. a. A participating member who first joined the defined contribution retirement plan before January 1, 2025, and an employee who elects to participate in the defined contribution plan under section 54-52.6-02.2, shall contribute monthly seven percent of the monthly salary or wa…
N.D.C.C. § 54-52.6-09.1 Acceptance of rollovers
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The plan may allow a participating member to transfer or rollover funds from other qualified plans into the member's account under rules adopted by the board.
N.D.C.C. § 54-52.6-09.2 Additional employer contributions
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Additional lump sum contributions by an employer to a participating member's defined contribution retirement plan account may be made if the participating member has not retired and has not received a retirement benefit under this chapter. Contributions may be made in an amount a…
N.D.C.C. § 54-52.6-09.3 Contributions for military service
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Repealed by S.L. 2005, ch. 531, § 20. 54-52.6-09.4. Military service under the Uniformed Services Employment and Reemployment Rights Act - Member retirement credit. A member reemployed under the Uniformed Services Employment and Reemployment Rights Act of 1994, as amended [Pub. L…
N.D.C.C. § 54-52.6-09.5 Employer contribution for defined benefit plan
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In addition to the employer contribution under section 54-52.6-09, a state employer that receives budgetary approval from the legislative assembly shall contribute to the defined benefit retirement plan under chapter 54-52, an amount equal to the contribution rate calculated unde…
N.D.C.C. § 54-52.6-09.6 Participation by temporary employees
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A temporary employee may elect, within one hundred eighty days of beginning employment, to participate in the defined contribution retirement plan under this chapter. Monthly, the temporary employee shall contribute an amount equal to nine and twenty-six hundredths percent times …
N.D.C.C. § 54-52.6-10 Vesting
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1. A participating member is immediately one hundred percent vested in that member's contributions made to that member's account under this chapter. A participating member vests in the employer contributions made on that member's behalf to an account under this chapter according …
N.D.C.C. § 54-52.6-11 Refund beneficiaries
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A participating or former participating member may nominate one or more individuals as a refund beneficiary by filing written notice of nomination with the board. If the participating member or former participating member is married at the time of the nomination and the participa…
N.D.C.C. § 54-52.6-12 Qualified domestic relations orders
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1. The board or a vendor contracted for by the board shall apportion a participating member's account in the defined contribution retirement plan under this chapter in accordance with the applicable requirements of any qualified domestic relations order. The board shall review a …
N.D.C.C. § 54-52.6-13 Distributions
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1. A participating member is eligible to receive distribution of that individual's accumulated balance in the plan upon becoming a former participating member. 2. Upon the death of a participating member or former participating member, the board shall pay the accumulated account …
N.D.C.C. § 54-52.6-14 Disability benefits
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The board shall allow distribution of the participating member's vested account balance if the board determines that the participating member has become totally and permanently disabled. If approved, the disabled member has the same distribution options as provided in subdivision…
N.D.C.C. § 54-52.6-15 Board to provide information
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1. The board shall provide information to employees who are eligible under section 54-52.6-02 or 54-52.6-02.2 to elect to become participating members under this chapter. The information must include at a minimum the employee's current account balance, the assumption of investmen…
N.D.C.C. § 54-52.6-16 State income tax deductions
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For the purposes of state income tax, the assessment imposed by this chapter on the employee must be treated in accordance with existing state statutes on state income tax.
N.D.C.C. § 54-52.6-17 Exemption from state premium tax
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Premiums, consideration for annuities, and membership fees are exempt from premium taxes payable pursuant to section 26.1-03-17.
N.D.C.C. § 54-52.6-18 Savings clause
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If the board determines that any section of this chapter does not comply with applicable federal statutes or rules, the board shall adopt appropriate terminology with respect to that section as will comply with those federal statutes or rules. Any plan modifications made by the b…
N.D.C.C. § 54-52.6-19 Overpayments
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The board has the right of setoff to recover overpayments made under this chapter and to satisfy any claims arising from embezzlement or fraud committed by a participating member, deferred member under this chapter, refund beneficiary, or other person that has a claim to a distri…
N.D.C.C. § 54-52.6-20 Correction of records
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The board shall correct errors in the records and actions in plans under this chapter and shall seek to recover overpayments and shall seek to collect underpayments.
N.D.C.C. § 54-52.6-21 Internal Revenue Code compliance
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The board shall administer the plan in compliance with the following sections of the Internal Revenue Code, as amended, as they apply to governmental plans: 1. Section 415, including the defined contribution limitations under section 415(c)(1)(A) and (B) of the Internal Revenue C…
N.D.C.C. § 54-52.6-22 Report to employee benefits programs committee
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Annually, the board shall provide a report to the employee benefits programs committee on the status of the defined contribution retirement plan under this chapter.
N.D.C.C. § 54-52.6-23 Savings clause - Plan modification
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If the board determines any section of this chapter does not comply with applicable federal statutes or rules, the board shall adopt appropriate terminology with respect to that section as will comply with those federal statutes or rules, subject to the approval of the employee b…