Upcoming Legislative Assembly
Posted 11/16/20 (Mon)
The NDPERS Board approved seven bills to introduce during the 67th Legislative Assembly set to start in January 2021. These bills are not final and are provided for your information only.
These proposed bills were studied by the Legislative Employee Benefits Committee which provided favorable recommendations for each of the following bills:
Relating to the funding the Defined Benefit Hybrid Retirement Plan
Proposes a 5.12% employer contribution increase starting January 1, 2022.
This increase proposal denotes the actuarially determined contribution rate (as of July 1, 2019)
to fund the Defined Benefit Hybrid Retirement Plan. The NDPERS Board must report this rate
during each legislative session (N.D. Century Code 54-52-06(4)).
Proposes a 1% employee and a 1% employer increase in contributions effective January 1, 2022. This would represent a total 2% contribution increase.
Relating to the funding of the Highway Patrol Retirement Plan
Proposes a 2% employer contribution increase on January 1, 2022 and another 2% increase on January 1, 2023.
Proposes a clarification on which health insurance plans need to meet Pharmacy Benefit Manager (PBM) requirements as established within HB 1374 approved during the 66th Legislative Assembly.
Establishes continuing appropriation to pay for the administrative expenses resulting from the 457 Deferred Compensation Plan. Sources for payment could include fees paid by participating members and fines collected by the NDPERS Board from vendors.
Establishes financial penalties for employers violating NDPERS statutory processes related to benefit administration and payroll reporting.
A technical corrections bill that includes the following:
- Clarifies the eligibility requirements for Retiree Health Insurance Credit (RHIC) payments.
- Provides additional guidance for payments of any remaining account balance after a member or their survivor passes away.
- Changes the age at which Required Minimum Distributions must begin to be consistent with recent federal law changes.