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PERS board seeks $35.7 million to shore Highway Patrol pension plan to 90% funding
Summary
The North Dakota Public Employees Retirement System requested a $35.7 million cash infusion to raise the Highway Patrol defined‑benefit plan to 90% funded by Jan. 1, 2026; the board proposes using SIF funds but said alternative sources would be considered.
The North Dakota Public Employees Retirement System (PERS) urged the House Appropriations Committee on March 17 to approve a $35.7 million one‑time cash infusion to stabilize the Highway Patrol defined‑benefit (DB) plan.
Austin Shower, who presented the bill request as a committee sponsor, said Senate Bill 2120 was drafted at the PERS board’s request to provide immediate funding stability for the Highway Patrol DB plan. "The Highway Patrol DB plan is the primary retirement benefit to 147 retirees and 167 active employees," Shower told the committee, and he said the infusion would move the plan toward a 90% funded ratio by Jan. 1, 2026.
PERS testimony and rationale Derek Holbein, chief operating and financial officer for PERS, told the committee the 90% threshold is a pragmatic target for a very small plan: "Because the plan is so…
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