North Dakota § 54-52.6-15 Board to provide information

North Dakota Statutes

§ 54-52.6-15 — Board to provide information

North Dakota § 54-52.6-15

Title 54State Government

Ch. 54-52.6Defined Contribution Retirement Plan

This text of North Dakota § 54-52.6-15 (Board to provide information) 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.

Bluebook

N.D. Cent. Code § 54-52.6-15 (2026).

Text

1.The board shall provide information to employees who are eligible under section 54-52.6-02 or 54-52.6-02.2 to elect to become participating members under this chapter. The information must include at a minimum the employee's current account balance, the assumption of investment risk under a defined contribution retirement plan, administrative and investment costs, coordination of benefits information, and a comparison of projected retirement benefits under the public employees retirement system under chapter 54-52 and the retirement plan established under this chapter.

2.The board, or the board's vendor, shall provide to participating members:

a.Enrollment information that includes benefits of the defined contribution retirement plan, investment options available, the assumption of ri

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1. The board shall provide information to employees who are eligible under section
54-52.6-02 or 54-52.6-02.2 to elect to become participating members under this
chapter. The information must include at a minimum the employee's current account
balance, the assumption of investment risk under a defined contribution retirement
plan, administrative and investment costs, coordination of benefits information, and a
comparison of projected retirement benefits under the public employees retirement
system under chapter 54-52 and the retirement plan established under this chapter.
2. The board, or the board's vendor, shall provide to participating members:
a. Enrollment information that includes benefits of the defined contribution
retirement plan, investment options available, the assumption of risk, and
administrative and investment costs.
b. Ongoing investment and retirement income planning, including education on how
to set, measure, and adjust income and saving goals based on desired retirement
income and financial objectives, actual behavior, and changing circumstances.
c. Retirement income education, including distribution options available and in-plan
annuitization options.
d. Advice and guidance information, tools, and services primarily focused on
long-term planning and investing and life events that potentially influence and
impact retirement savings.
3. Notwithstanding any other provision of law, the board is not liable for any election or
investment decision made by an employee based upon information provided to an
employee under this chapter.