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Published September 22, 2010, 09:03 AM

North Dakota Pension Changes Considered

Proposals to change the pension plan for North Dakota public school teachers would raise the retirement age and increase contributions into the teachers' pension fund.

BISMARCK, N.D. (AP) - Proposals to change the pension plan for North Dakota public school teachers would raise the retirement age and increase contributions into the teachers' pension fund.

Without any changes the fund is expected to run out of money in 2039. The North Dakota Education Association is backing the proposal as a way to restore the health of the fund.

Both teachers and school districts would have to increase their contributions to the pension fund. The money is likely to come out of future salary increases.

A legislative benefits committee is considering the idea, and the full Legislature will debate it next year.

The NDEA is opposing a separate bill to freeze the pension fund and switch new teachers into a 401(k)-style plan where benefits aren't guaranteed.

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