This text of North Dakota § 54-52-17.4 (Purchase of additional credit) 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.
1.A participating member may elect to purchase credit for years of service and prior
service for which the participating member is not presently receiving credit. A
participating member is entitled to purchase additional credit under this section for the
following service or prior service, except this service is not eligible for credit if the
years claimed also qualify for retirement benefits from another retirement system:
a.Active prior employment in the armed forces of the United States, except as
provided in section 54-52-17.14, for up to four years of credit.
b.Employment as a permanent employee by a public employer either within or
outside the state of North Dakota.
c.Employment as a permanent employee by a political subdivision participating in
the public employees retirement s
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1. A participating member may elect to purchase credit for years of service and prior
service for which the participating member is not presently receiving credit. A
participating member is entitled to purchase additional credit under this section for the
following service or prior service, except this service is not eligible for credit if the
years claimed also qualify for retirement benefits from another retirement system:
a. Active prior employment in the armed forces of the United States, except as
provided in section 54-52-17.14, for up to four years of credit.
b. Employment as a permanent employee by a public employer either within or
outside the state of North Dakota.
c. Employment as a permanent employee by a political subdivision participating in
the public employees retirement system which did not pay the cost of past service
benefits under section 54-52-02.1.
d. Service the participating member did not elect to repurchase upon re-employment
under section 54-52-02.6.
e. Service of an eligible employee, who exercised the privilege to withdraw from the
predecessor plan to the public employees retirement system under subsection 10
of section 54-52-17 as created by section 13 of chapter 499 of the 1977 Session
Laws.
f. Employment as a permanent employee by the federal government.
2. A participating member may elect to purchase credit for the following absences for
which the participating member is not receiving service credit:
a. Employer-approved leave of absence; or
b. Months away from work while participating as a seasonal employee.
3. Supreme and district court judges under the public employees retirement system may
elect to purchase credit for the following years of service:
a. Except as provided in section 54-52-17.14, for up to four years of credit for active
employment in the armed forces of the United States.
b. As a county judge in a county or counties that did not participate in the public
employees retirement system under this chapter.
c. Participation in the public employees retirement system as a county judge may be
converted to credit in the judges' retirement system.
4. The participating member may purchase credit under this section, or the participating
member's employer may purchase for the participating member, by paying to the
board an amount equal to the actuarial cost to the fund of providing the credit. If the
participating member purchases credit pursuant to subdivision d of subsection 1, the
participating member must pay to the board an amount equal to the greater of the
actuarial cost to the fund of providing the credit, or the amount the participating
member received upon taking a refund of the participating member's account balance,
plus interest at the actuarial rate of return from the time the participating member was
issued the refund. If the participating member is not repurchasing all of the credit
originally refunded, the participating member must pay a pro rata amount of the
refunded amount determined by dividing the refunded amount by the number of
months of credit refunded, multiplying that amount times the number of months of
credit the participating member seeks to repurchase, and adding interest at the
actuarial rate of return. The participating member or the participating member's
employer shall also pay to the retiree health benefits fund established under section
54-52.1-03.2 an amount equal to the actuarial cost to that fund for the additional credit.
This contribution must be recorded as a member contribution pursuant to section
54-52.1-03.2. The board shall adopt rules governing the purchase of additional credit
under this section.
5. Pursuant to rules adopted by the board, the board may allow a participating member to
purchase service credit with either pretax or aftertax moneys, at the board's discretion.
If the participating member elects to purchase service credit using pretax moneys, the
requirements and restrictions in subsection 3 of section 54-52-05 apply to the
purchase arrangement.
6. In addition to service credit identified in this section, a vested participating member
may purchase up to five years of service credit unrelated to any other eligible service.