[NCASG] Question on retirement plan options

[Hart, Lynn L.]

Do your state employees have an opportunity to choose among alternative retirement plans?

Here in North Dakota, our main retirement plan is a defined benefit (pension) plan.  The state also offers a defined contribution retirement plan.  Currently only non-classified employees and appointed and elected officials are eligible for the defined contribution plan, but there was an earlier period (October 2013 to July 2017) when the plan was available to all regular state employees.   New, eligible employees can make an irrevocable choice within the first six months of employment to opt out of the defined benefit plan and participate in the defined contribution plan.

Does your state offer any similar option?

To keep the question simple, I am ignoring the fact we have separate retirement plans for judges and law enforcement.

I would appreciate any information you can provide.

Thanks,

Lynn Hart, SPHR, SHRM-SCP, CCP, CEBS
Total Rewards Manager

701.328.4739     *     lyhart at nd.gov<mailto:lyhart at nd.gov>     *     https://protect-us.mimecast.com/s/BOLbCADlX1S1PVlBfGAIvZ?domain=omb.nd.gov<https://protect-us.mimecast.com/s/jSEXCBBmX6ClkAR0t6L7fP?domain=nd.gov>

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