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Sixty-ninth Legislative Assembly of North Dakota In Regular Session Commencing Tuesday, January 7, 2025 HOUSE BILL NO. 1234 (Representatives Dockter, Bosch, Schauer, Stemen, Lefor) (Senators Dever, Roers) AN ACT to provide a transfer from the strategic investment and improvements fund to the public employees retirement system fund; and to provide for a statement of legislative intent. BE IT ENACTED BY THE LEGISLATIVE ASSEMBLY OF NORTH DAKOTA: SECTION 1. TRANSFER - STRATEGIC INVESTMENT AND IMPROVEMENTS FUND TO PUBLIC EMPLOYEES RETIREMENT SYSTEM FUND. The office of management and budget shall transfer the sum of $25,000,000 from the strategic investment and improvements fund to the public employees retirement system fund, for the purpose of reducing the unfunded liability of the public employees retirement system main system defined benefit plan, during the biennium beginning July 1, 2025, and ending June 30, 2027. SECTION 2. LEGISLATIVE INTENT - PUBLIC EMPLOYEES RETIREMENT SYSTEM MAIN SYSTEM DEFINED BENEFIT PLAN. It is the intent of the sixty-ninth legislative assembly that the public employees retirement system use the $25,000,000 transferred in section 1 of this Act and the $65,000,000 projected to be deposited in the public employees retirement fund during the 2025-27 biennium pursuant to section 57-51.1-07.5 for reducing the unfunded liability of the public employees retirement system main system defined benefit plan. It is further the intent of the sixty-ninth legislative assembly that these transfers are in lieu of the public employees retirement system charging state governmental units the additional actuarially determined rate under section 54-52-06 during the 2025-27 biennium. H. B. NO. 1234 - PAGE 2 ____________________________ 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. 1234. House Vote: Senate Vote: Yeas 91 Yeas 46 Nays 0 Nays 0 Absent 3 Absent 1 ____________________________ 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
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