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Committee Approves Amended PERS Bill and Refers Measure to Appropriations
Summary
The Government and Veterans Affairs Committee considered amendments to House Bill 1146 involving PERS; after discussion and a detailed walk‑through by PERS staff, the committee voted to approve the amended bill and re‑refer it to the appropriations committee.
The committee resumed consideration of House Bill 1146 with Derek Holbein, chief operating and financial officer of the North Dakota Public Employees Retirement System (PERS), explaining technical changes in a draft amendment.
Holbein summarized proposed edits including (1) language allowing the legislature flexibility to direct lump‑sum contributions in lieu of charging participating employers the actuarially determined employer contribution (ADEC) in a given biennium, (2) an explicit treatment of listed entities as political subdivisions for contribution purposes, and (3) a drafting change to permit investment options described as “investment solutions” rather than limiting language to mutual funds.
Committee members discussed recent lump‑sum transfers used to address unfunded liabilities and Holbein noted prior transfers of $135 million and $65 million from legacy or oil‑related buckets that had been deployed to lower employer ADEC. After brief discussion, Vice‑Chair Satrim moved the amendment and it was put to a vote.
Representative Vedder moved a due‑pass recommendation for House Bill 1146 as amended; he later amended his motion to re‑refer the bill to the Appropriations Committee. The committee conducted a roll‑call vote and the motion carried. Committee minutes record the motion carried by voice/roll votes (multiple roll calls recorded as “motion carries 130” in the hearing). The measure will proceed to the Appropriations Committee for further fiscal review.
Ending: PERS staff said the draft language is intended to provide flexibility around lump‑sum funding options and to modernize investment menu language; the committee approved the measure as amended and re‑referred it to Appropriations.
