§ 54-52.2-06 — Deferred compensation program - Benefits - Taxation - Exemption from judicial process - Assignment

North Dakota § 54-52.2-06

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

Text

judicial process - Assignment.
The deferred compensation program established by this chapter shall exist and serve in
addition to retirement, pension, or benefit systems established by the state, county, city, town, or
other political subdivision, and no deferral of income under the deferred compensation program
shall effect a reduction of any retirement, pension, or other benefit provided by law. However,
with the exception of Roth contributions, any sum deferred under the deferred compensation
program is not subject to taxation until distribution is actually made to the employee. Any unpaid
benefits under the deferred compensation program established by this chapter are not subject
to execution, garnishment, attachment, the operation of bankruptcy or insolvency laws, or other
process of law whatsoever, except as provided by section 54-52.2-03.3. Neither the employee,
the employee's beneficiary, nor any designee of the employee or the employee's beneficiary has
the right to commute, sell, assign, transfer, or otherwise convey the right to receive payments
under this chapter.