The Fight For Pension Reform Begins
Committee hearings for HB 1039 & 1040 are just the begining.
On Friday, January 13th, 2023 the most serious fight to reform the state’s bleeding pension fund began with a three-hour long hearing on the two bills.
This is a long-standing issue that I, the North Dakota Watchdog Network ( and the North Dakota Taxpayers Association before that), have pushed to reform.
Governor Burgum has made pension reform a flagship issue for the 2023 session:
The two bills are very similar, differing only in how much money is injected into the fund to bail it out immediately.
According to the actuarial report, as of last July, the current fund was at a 67% funding ratio. (Since the stock market has been declining since last summer, this ratio has certainly gotten worse.)
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