Tag Archives: pers

Read It: Special Legislative Committee Issues Report On Disputed PERS Budget

Read It: Special Legislative Committee Issues Report On Disputed PERS Budget

The 2015 legislative session ended on an embarrassing, and potentially dangerous, note. They didn’t complete a budget for one of the state’s department. Specifically, the Public Employees Retirement System. The House and Senate were at odds over the decision by the PERS board to switch the state’s health insurance policy – the one covering all

Attorney General: PERS Can Continue To Operate Without A Budget

In an embarrassing turn of events for the Republican majorities in the legislature, the 2015 legislative session ended earlier this year without a finalized budget for the Public Employees Retirement System. The Senate and House were at an impasse over legislation concerning a decision by the PERS board to move the health insurance policies from

tax revenues pension

North Dakota Public Employees Pension Sees Unfunded Liability Break $1 Billion

The latest audit for North Dakota’s Public Employees Retirement System (PERS) is out, and the numbers aren’t good. Due to what the audit describes as investment losses, the unfunded liabilities in the pension have grown by nearly $200 million since last year. In 2012 the unfunded liability – pension obligations that aren’t covered by projected

Legislature Set To Give New State Workers Option For Defined Contribution Plans

Public pensions, nationally, are a mess and while North Dakota has escaped most of the nation’s economic problems over the last several years, pension headaches aren’t something we’ve been able to afford. Late last year the North Dakota Auditor’s office published some ugly pension numbers for the state’s Public Employees Retirement System. According to the audit, NDPERS

North Dakota House Votes To Give Public Workers Defined Contribution Pension Option

Under HB1452, introduced by Rep. Jim Kasper, would give new state hires the option of choosing a defined contribution pension plan instead of the existing (and fiscally in jeopardy) defined benefits pension. SAB readers will remember that earlier this week there was a lengthy debate on the floor of the state Senate, in advance of

ND Senate Bails Out Public Worker Pensions, But Authorizes Study For Move To Defined Contribution Plans

In his speech carrying SB2059 to the floor, Senator Dick Dever noted an alarming fact that I’ve written about before here on SAB: North Dakota’s public employee pension system, PERS, has fallen to being only 67.4% funded. In 2011 the fund was 70.5% funded, and not so many years ago the fund was 104% funded.