Below is a raw transcript of Representative Mike Lefor’s testimony in favor of the reforming and closing out North Dakota’s current Defined Benefit pension. This is a raw computer generated transcript, it has not been edited or corrected.
Speaker 1
I've been involved with this issue for six years for as a member of the employee benefits committee and two as a member of the interim retirement committee. And the number one goal that these committees have had in my opinion is what is in the best interest of our state employees in the past. The people that have worked for us that are now retired and are on the defined benefit plan.
Those that are with us now that are under the defined benefit plan, the same protections and going into the future. And I'll give you statistics as to why I believe and I the committee believe that uh moving to defined contribution plan with best practices is the best route to go for our state employees. So this bill, house bill 4 10 40 comes to you from the inte…
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