Bill > HB1113

This bill creates a new provision for the North Dakota Public Employees Retirement System's deferred compensation plan that establishes how administrative expenses will be paid and managed. Specifically, the bill allows participating members to pay administrative expenses through deductions from their individual deferred compensation accounts, and gives the board managing the plan the authority to charge reasonable administrative fees. The board can also pay administrative expenses using fines and fees collected from vendors, and is required to deposit these funds into an administrative expenses account with the state treasurer. The bill provides a continuing appropriation, meaning the money in the payroll clearing account and administrative expenses account is automatically allocated to the board to retain consultants and administer the deferred compensation plan without requiring additional legislative approval each budget cycle. This approach ensures that the deferred compensation plan can cover its operational costs efficiently and maintain ongoing administrative support.

Budget and Finance, Government Affairs, Military Affairs and Security

Government and Veterans Affairs (H)

https://ndlegis.gov/assembly/69-2025/regular/bill-overview/bo1113.html