North DakotaNorth Dakota directs $25 million to reduce public pension debt
During the 2025–27 budget period, state budget officials must move money into the retirement fund, and lawmakers state how they want it used.
What it does
The Office of Management and Budget transfers $25 million to the public employees retirement system fund to reduce the main pension plan’s unfunded liability.
The law states the Legislature’s intent that the retirement system use the $25 million transfer and a projected $65 million deposit to reduce pension debt, instead of charging state government units an additional rate.
Argument forPutting money toward the pension plan’s unfunded liability could reduce the amount the retirement system still needs to cover.
Argument againstTaking $25 million from the investment and improvements fund could leave less money for other projects it supports.
More detail
The Office of Management and Budget must transfer $25 million to the public employees retirement system fund. The money comes from the strategic investment and improvements fund and is for reducing the unfunded liability of the retirement system’s main defined benefit plan. The transfer is for the two-year period beginning July 1, 2025, and ending June 30, 2027.
The law states the Legislature’s intent for the retirement system to use specified funds to reduce the main pension plan’s unfunded liability, in place of charging state government units an additional rate. The stated intent covers the $25 million transfer and a projected $65 million deposit into the public employees retirement fund. This states legislative intent; it does not itself require the retirement system to use the funds that way or bar it from charging the additional rate. The stated intent applies during the two-year period beginning July 1, 2025, and ending June 30, 2027.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Apr 25Filed with Secretary Of State 04/23Latest
- Apr 24Signed by Governor Kelly Armstrong 04/23Became Law
- Apr 22Sent to GovernorTo Governor
- Apr 22Signed by Speaker
- Apr 21Signed by President
- Apr 17Second reading, passed, yeas 91 nays 0Major
- Vote recorded Motion for Final Passage on HB 1234. Result: pass.Lower
- Apr 17Concurred
- Apr 3Returned to House (12)
- Apr 2Second reading, passed as amended, yeas 46 nays 0Passed Senate
- Vote recorded Motion for Final Passage on HB 1234. Result: pass.Upper
- Mar 31Amendment adopted, placed on calendar
- Mar 28Reported back amended, do pass, amendment placed on calendar 16 0 0Minor
- Mar 7Rereferred to Appropriations
- Mar 7Reported back, do pass 5 0 1Minor
- Mar 6Committee Hearing 11:00
- Feb 18Introduced, first reading, referred State and Local Government CommitteeMinor
- Feb 17Received from House
- Feb 14Second reading, passed, yeas 76 nays 8Passed House
- Vote recorded Motion for Final Passage on HB 1234. Result: pass.Lower
- Feb 13Reported back, do pass, place on calendar 23 0 0Minor
- Jan 29Rereferred to Appropriations
- Jan 29Amendment adopted
- Jan 28Reported back amended, do pass, amendment placed on calendar 10 4 0Minor
- Jan 20Committee Hearing 09:00
- Jan 13Introduced, first reading, referred Finance and Taxation CommitteeIntroduced
Taxes & Budget