superintendent of public instruction.
Notwithstanding any other provision of law, between July 1, 2003, and five p.m. on
August 29, 2003, a nonteaching employee of the superintendent of public instruction, including
the superintendent of public instruction, who is otherwise eligible to participate in the public
employees retirement system may file an election with the staff of the retirement and investment
office to transfer from the teachers' fund for retirement to the public employees retirement
system. The teachers' fund for retirement shall certify the employees who are eligible to transfer.
An election to transfer is irrevocable for as long as the employee remains employed with the
superintendent of public instruction. The teachers' fund for retirement shall certify a transferring
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superintendent of public instruction.
Notwithstanding any other provision of law, between July 1, 2003, and five p.m. on
August 29, 2003, a nonteaching employee of the superintendent of public instruction, including
the superintendent of public instruction, who is otherwise eligible to participate in the public
employees retirement system may file an election with the staff of the retirement and investment
office to transfer from the teachers' fund for retirement to the public employees retirement
system. The teachers' fund for retirement shall certify the employees who are eligible to transfer.
An election to transfer is irrevocable for as long as the employee remains employed with the
superintendent of public instruction. The teachers' fund for retirement shall certify a transferring
employee's salary, service credit, contribution history, account balance, and any other
necessary information to the public employees retirement system. The amount to be transferred
is the greater of the actuarial present value of the employee's accrued benefit as of July 1,
2003, plus interest at the rate of seven and one-half percent from July 1, 2003, until the date the
amount is transferred to the public employees retirement system or the employee's account
balance as of the date of transfer. The public employees retirement system shall credit the
transferring employee with the service credit specified by the teachers' fund for retirement and
shall convert the annual salary history from the teachers' fund for retirement to a monthly salary
for the period. An employee becomes a member of the public employees retirement system as
of the date the funds are transferred. To be eligible to transfer, an employee must be employed
by the office of the superintendent of public instruction at the date of the transfer. The
superintendent of public instruction shall begin making retirement contributions, and the public
employees retirement system shall begin receiving those retirement contributions, on behalf of
employees who have elected to transfer to the public employees retirement system to that
system the first of the month following the date of transfer.
54-52-02.14. Participation by employees of the state board for career and technical
education.
Notwithstanding any other provision of law, between July 1, 2007, and five p.m. on
August 31, 2007, an employee of the state board for career and technical education who is
otherwise eligible to participate in the public employees retirement system may file an election
with the staff of the retirement and investment office to transfer from the teachers' fund for
retirement to the public employees retirement system. The teachers' fund for retirement shall
certify the employees who are eligible to transfer. An election to transfer is irrevocable for as
long as the employee remains employed with the state board for career and technical
education. The teachers' fund for retirement shall certify a transferring employee's salary,
service credit, contribution history, account balance, and any other necessary information to the
public employees retirement system. The amount to be transferred is the greater of the actuarial
present value of the employee's accrued benefit as of July 1, 2007, plus interest at the rate of
seven and one-half percent from July 1, 2007, until the date the amount is transferred to the
public employees retirement system or the employee's account balance on the date of transfer.
The public employees retirement system shall credit the transferring employee with the service
credit specified by the teachers' fund for retirement and shall convert the annual salary history
from the teachers' fund for retirement to a monthly salary for the period. An employee becomes
a member of the public employees retirement system as of the date the funds are transferred.
To be eligible to transfer, an employee must be employed by the state board for career and
technical education on the date of the transfer. The state board for career and technical
education shall begin making retirement contributions, and the public employees retirement
system shall begin receiving those retirement contributions, on behalf of employees who have
elected to transfer to the public employees retirement system to that system the first of the
month following the date of transfer.