N.D. Cent. Code § 54-52.6-09.2

Current through 2024 Legislative Session

Section 54-52.6-09.2 - Additional employer contributions

Additional lump sum contributions by an employer to a participating member's defined contribution retirement plan account may be made if the participating member has not retired and has not received a retirement benefit under this chapter. Contributions may be made in an amount actuarially equivalent to the amounts determined pursuant to chapter 54-52 as follows:

1. For the conversion of sick leave pursuant to section 54-52-27 if the participating member has four or more years of service.

2. The equivalent of up to five years of service credit unrelated to any other eligible service as provided in subsection 5 of section 54-52-29 if the participating member has twenty-five or more years of service.

N.D.C.C. § 54-52.6-09.2