North Dakota 2026 1st Special Session

North Dakota House Bill HB1234

Caption

AN ACT to provide a transfer from the strategic investment and improvements fund to the public employees retirement system fund; and to provide for a statement of legislative intent.

Summary

House Bill No. 1234 proposes a transfer of $25,000,000 from the strategic investment and improvements fund to the public employees retirement system fund. This transfer aims to address the unfunded liability of the public employees retirement system's main system defined benefit plan during the biennium from July 1, 2025, to June 30, 2027. The bill also expresses legislative intent for the public employees retirement system to utilize this transfer, along with an anticipated $65,000,000 deposit, to reduce the unfunded liability without imposing additional actuarially determined rates on state governmental units during the specified biennium.

Impact

If enacted, this bill will have a significant impact on the funding of the public employees retirement system in North Dakota. By transferring funds from the strategic investment and improvements fund, it aims to alleviate the financial burden of the unfunded liability on the retirement system, potentially stabilizing pension benefits for public employees. This action may also influence future funding strategies and the financial health of the retirement system.

Sentiment

The sentiment surrounding HB1234 appears to be overwhelmingly positive, as indicated by the unanimous votes in both the House (91-0) and Senate (46-0). This suggests strong bipartisan support for the bill, reflecting a shared commitment to ensuring the financial stability of public employee pensions in North Dakota.

Contention

There are no notable points of contention reported in the discussions or voting history related to HB1234. The bill received unanimous support, indicating that there were likely no significant disagreements among legislators regarding its provisions or implications.

Companion Bills

No companion bills found.

Previously Filed As

ND HB1234

AN ACT to provide a transfer from the strategic investment and improvements fund to the public employees retirement system fund; and to provide for a statement of legislative intent.

ND SB2014

A transfer from the strategic investment and improvements fund to the clean sustainable energy fund; to provide a deficiency appropriation; to provide for a transfer; to provide an exemption; to provide for a legislative management study; to provide for a legislative management report; to provide for a report; to provide an effective date; and to declare an emergency.

ND SB2212

The university system capital building fund pool; to provide for a transfer; and to provide legislative intent.

ND SB2151

The legacy earnings fund; to provide a statement of legislative intent; to provide an appropriation; and to provide an expiration date.

ND SB2120

AN ACT to provide for a transfer to the highway patrol troopers' retirement system fund.

ND SB2001

Use of legislative rooms and halls and legislative compensation; to provide a statement of legislative intent; to provide for a report; to provide an exemption; and to provide for application, transfer, and cancellation of unexpended appropriations.

ND SB2015

AN ACT to provide an appropriation for defraying the expenses of the department of corrections and rehabilitation; to authorize a line of credit; to provide a statement of legislative intent; to provide for a report; to provide for a legislative management study; and to provide an exemption.

ND SB2003

The naming of the Bismarck state college polytechnic center; to authorize the state board of higher education to issue and sell bonds for capital projects; to provide for a transfer; to provide for the conveyance of real property; to provide for a legislative management higher education funding review committee; to provide for a legislative management study; to provide for a report; to provide legislative intent; to provide an exemption; and to declare an emergency.

ND HB1016

AN ACT to provide an appropriation for defraying the expenses of the office of the adjutant general; to provide a statement of legislative intent; to provide an exemption; and to declare an emergency.

ND SB2006

AN ACT to provide an appropriation for defraying the expenses of the North Dakota aeronautics commission; to provide an exemption; and to provide a statement of legislative intent.

Similar Bills

No similar bills found.