Lawmakers considering changes to North Dakota PERS Plan

Photo by: WDAY Radio Staff
Photo by: WDAY Radio Staff

(Bismarck, ND) -- Lawmakers are considering changes to the North Dakota Public Employees Retirement System.

A group of legislators is considering switching the system from being pension based to putting assets into 401(k) plans.

Supporters of the move say the current plan is underfunded and may go broke in 20 to 25 years. Opponents say a set benefit program is a better use of funds.

A compromise has been proposed that would allow state employees to opt into a 401(k) plan if they want to.