This text of North Dakota § 54-52-11.1 (Vesting of employer contributions) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Except for supreme and district court judges, who are not eligible for benefits under this
section, a member's account balance includes vested employer contributions equal to the
member's contributions to the deferred compensation plan for public employees under chapter
54-52.2, or member contributions to other participating employer supplemental Internal
Revenue Code section 457 or 403(b) retirement programs as approved by the board, with the
minimum member contribution being twenty-five dollars. However, the vested employer
contribution may not exceed:
1.For months one through twelve of service credit, twenty-five dollars or one percent of
the member's monthly salary, whichever is greater.
2.For months thirteen through twenty-four of service credit, twenty-five dollars or two
percent o
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Except for supreme and district court judges, who are not eligible for benefits under this
section, a member's account balance includes vested employer contributions equal to the
member's contributions to the deferred compensation plan for public employees under chapter
54-52.2, or member contributions to other participating employer supplemental Internal
Revenue Code section 457 or 403(b) retirement programs as approved by the board, with the
minimum member contribution being twenty-five dollars. However, the vested employer
contribution may not exceed:
1. For months one through twelve of service credit, twenty-five dollars or one percent of
the member's monthly salary, whichever is greater.
2. For months thirteen through twenty-four of service credit, twenty-five dollars or two
percent of the member's monthly salary, whichever is greater.
3. For months twenty-five through thirty-six of service credit, twenty-five dollars or three
percent of the member's monthly salary, whichever is greater.
4. For service exceeding thirty-six months, twenty-five dollars or four percent of the
member's monthly salary, whichever is greater.
5. The vested employer contribution may not exceed four percent of the member's
monthly salary.
Vested employer contributions must be credited monthly to the member's account balance.