Defined Benefit Hybrid Retirement Plan
Steps to Enrollment
- Refer to the new employer group Defined Benefit Hybrid Retirement Plan Enrollment Information regarding employee eligibility and employer/employee contribution requirements.
- Complete and submit an Eligibility Assessment Questionnaire SFN 58781 for NDPERS to determine if your agency is an eligible political subdivision.
- Submit signed board resolution with required NDPERS language.
- Contracts must be completed and submitted to NDPERS.
- It is also advised that employers enrolling in Defined Benefit Plan look at enrolling in the 457 Deferred Compensation Plan to allow for employee participation in the Portability Enhancement Program (PEP).
- If your organization already offers a 403(b) or 457 plan, your employees are also eligible for the Portability Enhancement Provision. Please review the PEP Program Information and complete the PEP Agreement.
- Schedule employee education and outreach efforts regarding retirement plan enrollment.
- Employee Applications/Waivers must be completed and returned to NDPERS prior to employer enrollment date.
- After one full month of retirement contributions to NDPERS, employee(s) may request to purchase previous public service under newly enrolled employer.
If you have any questions or concerns regarding the NDPERS Group Defined Benefit Hybrid Retirement Plan please contact our office at 1-800-803-7377 or 1-701-328-3900.