Section 71-08-06-04 - CostThe cost for purchase of eligible military service in the defined contribution plan may be paid as follows:
1. The cost for any required employee contributions to be paid by the member may be paid in a lump sum or in installments pursuant to the rules established for purchase or repurchase payment under subsection 3, 4, or 5 of section 71-02-03-02.2. If no payments have been made, no credit will be awarded for benefit calculation purposes. 2. The employer cost will be assessed to the member's most recent participating employer. Upon being billed by the public employees retirement system, the participating employer will have thirty days in which to make payment in full. If, after sixty days, the employer has not made payment in full, a civil penalty of fifty dollars will be assessed, and, as interest, one percent of the amount due for each month of delay or fraction thereof after the payment became due. N.D. Admin Code 71-08-06-04
Effective May 1, 2004; amended effective July 1, 2006; July 1, 2010; April 1, 2012.General Authority: NDCC 54-52-04, 54-52.6-04
Law Implemented: NDCC 54-52.6-09.4; 38 USC 4318(a)(2)(A), 38 USC 4318(a)(2)(B), 38 USC 4318(b)(2); 20 CFR 1002.259 - 262