North Dakota Administrative Code
Title 71 - Retirement Board
Article 71-02 - Public Employees Retirement System
Chapter 71-02-04 - Retirement Benefits
Section 71-02-04-09.1 - Dual membership limitations
Current through Supplement No. 394, October, 2024
The following limitations apply when a member elects an option under subsection 1 of section 71-02-04-09.
1. Eligible service credit may be used for vesting purposes and determining when the dual member may begin drawing normal retirement benefits. A member may begin drawing retirement benefits from one fund and use the same years, and any additional years, for reaching retirement from the alternate fund if the service credit is earned at different times.
2. If a dual member elects to receive retirement benefits as provided in subsection 1 of section 71-02-04-09, the final average salary, service credit, and member's age used to calculate the benefit that is applicable at the time retirement benefits begin may not be adjusted after the benefit effective date.
3. The salary used in calculating the retirement benefit must be provided in writing by the alternate retirement system. Months not employed are excluded for the purpose of computing the final average salary. If a dual member works less than thirty-six months at retirement, the final average salary is the average salary for total months of employment.
General Authority: NDCC 54-52-04, 54-52-17, 54-52-17.2
Law Implemented: NDCC 54-52-17, 54-52-17.2