§ 39-03.1-14.1 — Multiple plan membership - Eligibility for benefits - Amount of benefits

North Dakota § 39-03.1-14.1

• Jurisdiction: North Dakota
• Title 39: Motor Vehicles
• Ch. 39-03.1: Highway Patrol Troopers' Retirement System

Text

1. For the purpose of determining eligibility for benefits under this chapter, a member's
years of service is the total of the years of service earned under this chapter and the
years of service employment or years of service credit earned in any number of the
following, the total of which may not exceed twelve months of credit per year:
a. The public employees retirement system.
b. The teachers' fund for retirement.
c. The teachers' insurance and annuity association of America - college retirement
equities fund (TIAA-CREF), for service credit earned while employed by North
Dakota institutions of higher education.
2. If a member terminates eligible employment under this chapter, if that member has not
received a refund of the member's accumulated deductions, and if that member begins
eligible employment in a plan described in subdivision a or b of subsection 1, that
member may elect to remain an inactive member of the system without refund of the
member's accumulated deductions. The election must be made within ninety days
after beginning the eligible employment. The board shall terminate the inactive status
of a member under this subsection if the member gains eligible employment under this
chapter or if the member terminates eligible employment under a plan described in
subdivision a or b of subsection 1.
3. Pursuant to rules adopted by the board, a member who has service credit in the
system and in any of the alternate plans described in subdivision a or b of
subsection 1 is entitled to benefits under this chapter. The employee may elect to have
benefits calculated using the benefit formula in section 39-03.1-11 under either of the
following calculation methods:
a. By using the final average salary as calculated in section 39-03.1-11. If the
participating member has worked for less than thirty-six months at retirement, the
final average salary is the average salary for the total months of employment.
b. Using the final average salary as calculated in section 39-03.1-11, with service
credit not to exceed one month in any month when combined with the service
credit earned in the alternate retirement system.
The board shall calculate benefits for an employee under this subsection by using only
those years of service employment earned under this chapter.