52-11 Retirement Program for Certain State Employees
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program by contract with an insurance company, state or national bank and trust
company, or an investment company, authorized under the law to do business in
this state, the state investment board, or the North Dakota public employees
retirement system.Except for a retirement program established under chapter54-52, the North Dakota national guard shall prepare specifications of the terms of
the retirement program which must be submitted to not less than three companies or
agencies with a request for bids upon the retirement program contracts. After the
submission of at least three bids, the adjutant general shall compare the bids, and
with the approval of the governor, shall execute a contract for the retirement
program with the company or agency submitting the lowest and best bid. The public
employees retirement system board is authorized to administer the retirement plan
established in 1961 and frozen to new entrants in 1980 for employees of job service
North Dakota.The public employees retirement system board shall fund theadministrative expenses of administering that retirement plan from the funds in that
plan.2.The employing agency shall be authorized to withhold the employee's share of the
contributions required under such retirement program from the salary paid each
employee of such agency. The amount of such withholding must be an adjustable
percentage rate of the employee's salary sufficient to provide financing of the
required employee's contributions to such retirement plan as such plan was
originally contracted and as it has been or will be amended, provided that such
percentage rate may not exceed the percentage rate which may be fixed for
withholding from federal employees for employee contributions to the federal
retirement program under civil service. The employing agency shall be authorized to
pay a sum as prescribed in the program contract toward the cost of such retirement
program, which sum may not be in excess of the amount approved by the
appropriate federal agency supervising the payment or reimbursement of salary and
retirement program costs. The amount withheld from the wages due an employee
and the amount to be paid by the employing agency must be paid to the company
holding such retirement program contract in accordance with the terms of such
contract.3.The employing agency's share of the costs of such retirement program must be paid
from any funds made available to it for this purpose by the United States
government, and in the case of employees of such agencies for whom the state
does not receive federal payments for salary costs, such employer's share may be
made from any appropriations made available for the purpose of paying such
salaries. Payments may be made for prior service of employees in accordance with
the terms of the retirement program contract and in accordance with the availability
of funds. The contract must specify the terms and conditions under which employee
contributions may be withdrawn from the program and for the crediting of the
employer's contributions to future payments due from the employing agency.
Provision may be made in the contract for optional payment of benefits to survivors
of covered employees. Each agency participating in the retirement program shall be
authorized to do all things necessary for the proper administration of the program,
but no benefits payable under the terms of the retirement program contract shall
ever become an obligation of the state.Page No. 1Document Outlinechapter 52-11 retirement program for certain state employees