§ 54-52.2-03.4 — Administrative expenses - Continuing appropriation

North Dakota § 54-52.2-03.4

• Jurisdiction: North Dakota
• Title 54: State Government
• Ch. 54-52.2: Deferred Compensation Plan for Public Employees

Text

1. A participating member shall pay the administrative expenses of the plan in a manner
determined by the board. The board:
a. Or a vendor retained by the board, may charge reasonable administrative
expenses and deduct those expenses from a participating member's account in
the deferred compensation plan established under this chapter.
b. May pay the administrative expenses of the plan from fines and fees collected
from a vendor in a manner determined by the board.
c. Shall deposit vendor fines and fees and any money deducted from a participating
member's account in an administrative expenses account with the state treasurer.
d. May use funds from the payroll clearing account established under section
54-52.3-03 and the administrative expenses account to pay for consulting
expenses.
2. All money in the payroll clearing account and the administrative expenses account are
appropriated to the board on a continuing basis for the purpose of retaining a
consultant as required for the administration of this chapter.