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0500 Fifty Sixth Legislative Assembly of North Dakota Introduced by Representatives Timm, Dorso Legis Nd Form

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0500 Fifty Sixth Legislative Assembly of North Dakota Introduced by Representatives Timm, Dorso Legis Nd Form

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it's all but certain future state employees in North Dakota won't be getting a pension the House of Representatives passed House Bill 1040 today likely the most expensive bill in State history at five and a half billion dollars it will replace the Public Employee Retirement System pension plan with a 401k style plan for new employees current employees will be allowed to keep their pension plan but the new employees starting in 2025 will only have the 401 style plan option so this is a 30-year plan this has been well thought out it's been well vetted time to close a defined cut Benefit Plan it's time to open up a best practice and Define contribution plan for the betterment of our state those opposed to the bill say removing one of the primary incentives to work for state government will hamstring a state already dealing with Workforce issues we know for a fact that that public employees are paid somewhere between 7 and 12 percent less than their counterp

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0500 Fifty Sixth Legislative Assembly of North Dakota Introduced by Representatives Timm, Dorso Legis Nd Form

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