Bill > HB1219

This bill amends several sections of the North Dakota Century Code related to the Teachers' Fund for Retirement (TFFR). Key provisions include: - Removing the requirement that retirement annuity payments begin on the first or fifteenth day of the month following eligibility. - Removing the requirement for the TFFR board to pass a resolution informing the State Investment Board of the levels of services, goals, and objectives expected to be provided through the Retirement and Investment Office. - Modifying the requirements for a "qualified domestic relations order" to allow for the payment of benefits at an early retirement date. - Clarifying the process for teachers who withdraw from the fund and later return to teaching to regain service credit. - Expanding the optional forms of retirement benefits available to TFFR members. - Modifying the rules for retired teachers who return to active service, including changing the annual hour limits and the calculation of their benefits upon subsequent retirement. Overall, the bill aims to provide more flexibility and clarity around TFFR board authority and member benefits.

Government Affairs, Military Affairs and Security

https://www.ndlegis.gov/assembly/68-2023/regular/bill-overview/bo1219.html