North Dakota Legislative Management, Bismarck is searching for a consultant to assist in the development of a plan to close the North Dakota Public Employees Retirement System's defined benefit plan.
The Legislature's retirement committee is seeking a consultant to assist in providing recommendations for a potential bill for the 2023 legislative session that would close the pension plan to new hires on Jan. 1, 2024, said Chris J. Kadrmas, senior fiscal analyst.
The selected consultant would provide a written report on April 1, 2022, which would include recommendations based on actuarial calculations and other potential impacts closing the pension plan would have, Mr. Kadrmas added.
North Dakota Public Employees Retirement System had $4 billion in assets as of June 30, according to its most recent investment report.
The RFP is available on the legislative management's website. Proposals are due Dec. 3. A selection is expected by the end of December.
