40-46 Employees' Pensions in Cities - North Dakota Statutes

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CHAPTER 40-46EMPLOYEES' PENSIONS IN CITIES40-46-01. Adoption of employees' pension plan - Exclusion of police and membersof firefighters relief associations. The provisions of this chapter become operative in any city
qualified to adopt the same by:1.The adoption by the governing body of the city of a plan substantially setting forth
the provisions of this chapter; and2.The concurrence in the plan by the employees of the city by a majority vote thereof.Thereafter, all employees of the city are bound by the provisions of the plan without further action
by the governing body or by the employees of the city. For purposes of this chapter, members of
the police force of the city are not considered employees of the city and members of a firefighters
relief association are not considered employees of the city, if by a majority vote of the members
thereof, they exclude themselves.40-46-02. Tax levy for city employees' pension fund authorized - Limitations. Anycity may levy an annual tax not exceeding the limitation in subsection 12 of section 57-15-10 for
the purpose of creating and maintaining a city employees' pension fund.A city may makepayment from a city employees' pension fund to any pension plan or retirement program for city
employees provided the receiving plan or program is approved by the internal revenue service.
Any pension system shall be based on actuarial tables and actuarial valuation shall be performed
at intervals of not more than five years.40-46-02.1.Tax levy for city employees' pension plan authorized - Limitations.Repealed by S.L. 1983, ch. 465,