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SB 2120

AN ACT to provide for a transfer to the highway patrol troopers' retirement system fund.

69th Legislative Assembly (2025-26)

One-time transfer of $15,000,000 from the Strategic Investment and Improvements Fund to the Highway Patrol Troopers' Retirement System Fund (2025-27) to bolster funded status.

Filed with Secretary Of State 04/17
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Bill Summary · SB 2120

Summary — SB 2120 (North Dakota, 69th Legislative Assembly)

Title: An Act to provide for a transfer to the highway patrol troopers' retirement system fund
Introduced: March 10, 2025
Status: Enacted and filed with Secretary of State April 17, 2025
Sponsor/Committee: State and Local Government Committee (North Dakota Public Employees Retirement System)

Purpose / Intent

SB 2120 requires a one‑time transfer of state funds into the Highway Patrol Troopers' Retirement System (HPTRS) to strengthen the plan’s funded status. The transfer is intended to reduce the retirement system’s unfunded liability and improve long‑term solvency for troopers’ pensions.

Key provisions

  • Directs the Office of Management and Budget (OMB) to transfer $15,000,000 from the Strategic Investment and Improvements Fund (SIIF) to the Highway Patrol Troopers' Retirement System Fund (HPTRS Fund).
  • Timing: The transfer is to occur during the 2025–2027 biennium (July 1, 2025 through June 30, 2027).
  • Purpose language: The statute states the transfer is "for the purpose of increasing the funded liability of the highway patrol troopers' retirement plan" during the biennium.

Notable amendment history

  • An earlier version (committee/introduced draft) proposed a larger transfer of $35,700,000 and expressly tied the money to raising the HPTRS funded ratio to 90% as of January 1, 2026.
  • A House amendment reduced the amount to $15,000,000 and removed the explicit 90% funded‑ratio target; the final enrolled bill reflects the $15,000,000 transfer without a specific funded ratio deadline.

Who is affected

  • Direct beneficiaries: Members and retirees of the Highway Patrol Troopers' Retirement System (improved asset base and reduced unfunded liability).
  • State finances: SIIF will be reduced by $15,000,000; HPTRS Fund assets will increase by the same amount.
  • Indirect: Potential future employer contribution requirements and budgetary pressures may be moderated if the infusion meaningfully improves actuarial status.

Administrative / procedural notes

  • The transfer is mandatory and executed by the Office of Management and Budget.
  • The action is a one‑time appropriation/transfer during the 2025–27 biennium; no ongoing appropriation or recurring surcharge is established by this bill.
  • Legislative passage record: Senate passed 46–0; House passed 83–6. Signed by legislative leaders and the Governor; filed with the Secretary of State on April 17, 2025.

Impact considerations

  • The immediate fiscal effect is the movement of $15 million of state reserve funds into a retirement trust, improving measured funded status but reducing SIIF balances available for other uses.
  • The exact actuarial impact (e.g., change in funded ratio or effect on future employer contribution rates) depends on plan liabilities, actuarial assumptions, and investment performance; those impacts would be quantified in actuarial reports outside the bill text.

Compiled from official sources — confirm details with the bill’s official record.

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