Section 71-02-04-07 - Amount of early retirement benefit1. Except for a national guard security officer or firefighter or a peace officer or correctional officer employed by the bureau of criminal investigation or by a political subdivision, the early retirement benefit for members first enrolled prior to December 31, 2015, shall be an amount actuarially reduced from the single life retirement benefit by one-half of one percent for each month (six percent per year) that the member is younger than the age at which the member would be at the member's normal retirement date on the date of the member's early retirement benefit effective date.2. For a national guard security officer or firefighter or a peace officer or correctional officer employed by the bureau of criminal investigation or by a political subdivision, the early retirement benefit must be an amount actuarially reduced from the single life retirement benefit by one-half of one percent for each month (six percent per year) that the member is younger than age fifty-five on the date of the member's early retirement benefit effective date.N.D. Admin Code 71-02-04-07
Amended effective September 1, 1982; June 1, 1996; April 1, 2002; May 1, 2004; July 1, 2006; July 1, 2010.Amended by Administrative Rules Supplement 2016-360, April 2016, effective 4/1/2016.General Authority: NDCC 54-52-04, 54-52-17
Law Implemented: NDCC 54-52-17