HB 1040 - Eliminate NDPERS Pensions

House Bill 1040 closes the North Dakota Public Employees Retirement System (NDPERS) defined-benefit pension plan to all new hires beginning in 2025. The defined-benefit pension plan is a valuable recruiting tool and provides stable retirement savings for our public workers. Closing the plan will cost taxpayers $5 billion dollars; nearly 5x the cost of simply investing in- and retaining the pension plan as written in SB 2239. Despite these facts, the legislature voted to pass this bill and close the defined-benefit plan.

• ND United OPPOSED this bill.

• HB 1040 PASSED the Legislature.