Section 71-08-10-02 - [Effective 1/1/2025] Contribution1. A participating member who first joined the defined contribution retirement plan under North Dakota Century Code chapter 54-52.6 after December 31, 2024, except for an employee who elects to participate in the defined contribution retirement plan under North Dakota Century Code section 54-52.6-02.2, shall contribute monthly four percent of the monthly salary or wage paid to the participating member. In addition, the participating member may elect, within thirty days of beginning employment, to contribute monthly to the defined contribution retirement plan under North Dakota Century Code chapter 54-52.6 up to an additional three percent of the monthly salary or wage paid to the participating member. All additional contributions must be in whole percentages.2. A participating member's election for additional contributions under subsection 1 is a one-time, irrevocable election as long as the individual is a participating member with any participating employer.N.D. Admin Code 71-08-10-02
Adopted by Administrative Rules Supplement 2024-395, January 2025, effective 1/1/2025.General Authority: NDCC 54-52-04; IRC 414(h)(2), Rev. Rul. 2006-43
Law Implemented: NDCC 54-52-02.15, 54-52.6-09