HB 1274 — Relating to membership of the public employees retirement system public safety retirement plan.

9 25.0040.02000 Sixty-ninth Legislative Assembly g.

(2)H. For a national guard security officer or firefighter, early retirement date is the first day of the month next following the month in which the national guard security officer or firefighter attains the age of fifty years and has completed at least three years of eligible employment.

B.

NO.

1274 - PAGE 7 (2) For a national guard security officer or firefighter, early retirement date is the first day of the month next following the month in which the national guard security officer or firefighter attains the age of fifty years and has completed at least three years of eligible employment.

(1) A member is eligible to receive disability retirement benefits only if the member became disabled during the period of eligible employment and Pageapplies No.for disability retirement benefits within twelve months of the date the member terminates employment.

10 25.0040.02000 Sixty-ninth Legislative Assembly applies for disability retirement benefits within twelve months of the date the member terminates employment.

(2)H. Prior service benefit equals two percent of final average salary multiplied by the number of years of prior service employment.

B.

NO.

1274 - PAGE 8 (2) Prior service benefit equals two percent of final average salary multiplied by the number of years of prior service employment.

Normal retirement benefits for all supreme and district court judges under the public employees retirement system reaching normal retirement date equal an Pageannual No.amount, payable monthly, comprised of a benefit as defined in this chapter, determined as follows:

11 25.0040.02000 Sixty-ninth Legislative Assembly annual amount, payable monthly, comprised of a benefit as defined in this chapter, determined as follows:

Page(2) No.Prior service benefit equals two percent of final average salary multiplied by the number of years of prior service employment.

12 25.0040.02000 Sixty-ninth Legislative Assembly (2) Prior service benefit equals two percent of final average salary multiplied by the number of years of prior service employment.

A retiree, otherH. than a supreme or district court judge, is eligible for early retirement benefits only after having completed three years of eligible employment.

B.

NO.

1274 - PAGE 9 other than a supreme or district court judge, is eligible for early retirement benefits only after having completed three years of eligible employment.

Members who have delayed or inadvertently Pagefailed No.to apply for retirement benefits to commence on their normal retirement date may choose to receive either a lump sum payment equal to the amount of missed payments, or an actuarial increase to the form of benefit the member has selected, which increase must reflect the missed payments.

13 25.0040.02000 Sixty-ninth Legislative Assembly failed to apply for retirement benefits to commence on their normal retirement date may choose to receive either a lump sum payment equal to the amount of missed payments, or an actuarial increase to the form of benefit the member has selected, which increase must reflect the missed payments.

Page(1) No.A lump sum payment of the member's retirement account as of the date of death.

14 25.0040.02000 Sixty-ninth Legislative Assembly (1) A lump sum payment of the member's retirement account as of the date of death.

(3) If the member dies on or after the member's normal retirement date, the payment of a monthly retirement benefit equal to an amount that would have been paid to the survivingH. spouse if the member had retired on the day of the member's death and had selected a one hundred percent joint and survivor annuity, payable until the spouse dies.

B.

NO.

1274 - PAGE 10 surviving spouse if the member had retired on the day of the member's death and had selected a one hundred percent joint and survivor annuity, payable until the spouse dies.

If a member receiving retirement benefits or the member's surviving spouse receiving retirement benefits dies before Pagethe No.total amount of benefits paid to either or both equals the amount of the member's account balance at retirement, the difference must be paid to the named beneficiary of the recipient or, if there is no named beneficiary, to the recipient's estate.

15 25.0040.02000 Sixty-ninth Legislative Assembly the total amount of benefits paid to either or both equals the amount of the member's account balance at retirement, the difference must be paid to the named beneficiary of the recipient or, if there is no named beneficiary, to the recipient's estate.

11.H.

TheB. board may accept trustee-to-trustee transfers as permitted by Internal Revenue Code section 403(b)(13) and section 457(e)(17) from an Internal Revenue Code Page No.

16NO. 25.0040.02000 Sixty-ninth Legislative Assembly section 403(b) annuity or Internal Revenue Code section 457 deferred compensation plan for the purchase of permissive service credit, as defined in Internal Revenue Code section 415(n)(3)(A) or as repayment of a cashout from a governmental plan under Internal Revenue Code section 415(k)(3).

1274 - PAGE 11 11.

The board may accept trustee-to-trustee transfers as permitted by Internal Revenue Code section 403(b)(13) and section 457(e)(17) from an Internal Revenue Code section 403(b) annuity or Internal Revenue Code section 457 deferred compensation plan for the purchase of permissive service credit, as defined in Internal Revenue Code section 415(n)(3)(A) or as repayment of a cashout from a governmental plan under Internal Revenue Code section 415(k)(3).

PageH. No.

17B. 25.0040.02000

NO.

1274 - PAGE 12 ____________________________ ____________________________ Speaker of the House President of the Senate ____________________________ ____________________________ Chief Clerk of the House Secretary of the Senate This certifies that the within bill originated in the House of Representatives of the Sixty-ninth Legislative Assembly of North Dakota and is known on the records of that body as House Bill No.

1274.

House Vote:

Yeas 71 Nays 19 Absent 4 Senate Vote:

Yeas 47 Nays 0 Absent 0 ____________________________ Chief Clerk of the House Received by the Governor at ________M.

on _____________________________________, 2025.

Approved at ________M.

on __________________________________________________, 2025.

____________________________ Governor Filed in this office this ___________day of _______________________________________, 2025, at ________ o’clock ________M.

____________________________ Secretary of State