Published: January 12, 2023
I’m going to jump right to the chase as the 68th Legislative Session is now, after a clunky start, off and running!
This week is all about the PERS Defined Benefit Plan. As you know, the Retirement Committee met over the interim with a single charge to close the defined benefit plan administered by the ND Public Employees Retirement System beginning on January 1, 2025.
At ND United, our members recognize, as do public employers, that public employees are paid somewhere between 7 and 12 percent less than their similarly educated and experienced counterparts in the private sector.
They know, too, that benefits like healthcare and retirement security, afforded to public employees, are important tools to recruit and retain the dedicated public employees needed to deliver vital services to the citizens of North Dakota.
On Friday, January 13th, ND United and other like-minded individuals, and groups will testify against HB 1040, the bill to close the defined benefits plan. HB 1040:
- Is prohibitively expensive, costing $5.6B over the next 20 years.
- Puts current retirees and those currently in the plan at risk.
- Seeks to bind future legislatures to pay the exorbitant cost of closing the DB plan, which cannot be done legally.
- Ignores the terrible experiences of other states who have tried and failed to do the same thing.
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With more than 11,500 members across the state, NDU supports equal opportunities for success for ALL North Dakota students, and respect and support for all educators. NDU members are teachers, community college professors, speech pathologists, bus drivers, secretaries, retired educators and student teachers.