Statutes, codes, and regulations
North Dakota Administrative Code
Title 82 - Board of Trustees of the Teachers' Fund for RetirementArticle 82-05 - Retirement Benefits
Chapter 82-05-03 - Payment of Benefits
Section 82-05-03-01 - When benefit payments begin - Direct deposit

N.D. Admin. Code 82-05-03-01

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Current through Supplement No. 394, October, 2024
Section 82-05-03-01 - When benefit payments begin - Direct deposit

If the teacher terminates covered employment and becomes eligible for retirement benefits, retirement benefits are paid on the first day of the month following the official date of retirement. If a teacher terminates covered employment or becomes eligible for retirement benefits after the first fifteen days of the month, retirement benefits are paid beginning the first day of the following month.

Annuity payments will be directly deposited to a teacher's account in a bank, credit union, savings and loan, or other financial institution provided that the financial institution is an automated clearing house (ACH) financial participant. The teacher must complete the official direct deposit form provided by the fund.

N.D. Admin Code 82-05-03-01

Effective September 1, 1990; amended effective May 1, 1998.
Amended by Administrative Rules Supplement 2024-392, April 2024, effective 4/1/2024.

General Authority: NDCC 15-39.1-07

Law Implemented: NDCC 15-39.1-10