NDPERS Funding and Projections are In!
Posted 11/07/19 (Thu)
The North Dakota Public Employees Retirement System (NDPERS) administers six retirement plans benefiting more than 50,000 members. Each of these plans has a unique structure of contributions made by participating employees and employers. Of the six plans, the Defined Benefit/Hybrid Retirement (Main) Plan represents around 96% of the total membership.
During the recent October Board meeting, our consultant, Gabriel, Roeder, Smith & Company (GRS), shared the funding results and projections for each of the plans based on the current contributions. GRS focused on the Main Plan, and its current funding of 71.3%, which represents a slight decrease from the 2018 actuarial valuation results.
However, two recent measures, approved during the 66th Legislative Assembly, improved the projections on restoring the Main Plan to 100% funded ratio by year 2100. Prior to the implementation of these funding measures, which become effective after 2019, the Main Plan’s contributions were not sufficient to improve the funded ratio of the plan.