north dakota

Closing Pensions For Public Workers Has Proven A Mistake

By Dan Doonan Source: Forbes A measure to close North Dakota's public pension plan is headed to Governor Doug Burgum's desk for signature. Before enacting the measure, the state’s chief executive would be wise to look at the experience of other states that have made such a drastic move. State leaders have learned the hard way that ending pension benefits comes with little to be gained and a big price to pay. More specifically, states that shifted new employees [...]

New survey shows great support for a ‘defined benefit’ retirement plan, not for a ‘defined contribution’ plan

By Dave Thompson Source: Prairie Public Newsroom The union representing public employees in North Dakota says a new survey from the state’s Human Resources Management Services shows strong support for a defined benefit retirement plan. That’s the plan state employees have now. An interim Legislative Committee is looking at closing that plan to new state employees, and going to a “defined contribution” plan for new hires in 2024. The survey shows 42 percent of respondents strongly agree with the [...]