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On World AIDS Day, New Mexico activists say more money is needed for prevention; ND farmers still navigate corporate land-ownership policy maze; Unpaid caregivers in ME receive limited financial grants.

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Secretary of State Antony Blinken urges Israel to protect civilians amid Gaza truce talks, New York Rep. George Santos defends himself as his expected expulsion looms and CDC director warns about respiratory illness as flu season begins.

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Congress has iced the Farm Bill, but farmer advocates argue some portions are urgent, the Hoosier State is reaping big rewards from wind and solar, and opponents react to a road through Alaska's Brooks Range, long a dream destination for hunters and anglers.

Pension Overhaul for ND Under Microscope

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Tuesday, February 21, 2023   

North Dakota is eyeing changes to the retirement plan offered to state employees.

Future hires would be moved to a "defined contribution" plan, but there are concerns it would negatively affect the ability to attract workers.

Conservative-leaning groups such as Americans for Prosperity, as well as the bill sponsors, say the North Dakota Public Employees Retirement System has an unfunded liability of $1.8 billion. They want to move away from a defined pension benefit to a 401k-style system, which would rely on investments.

Kendal Killian, executive director of the National Public Pension Coalition, said it does not make sense to overhaul one of the key selling points for those in the public sector.

"They usually get paid a little bit less in their salary," Killian pointed out. "They usually have a good work-life balance. But they really do it because of the superior benefits; health care benefits and retirement benefits."

The bill in question was introduced in the House. Opponents argued the state should instead embrace a Senate plan, which would commit funds to shore up the pension system but would also give future hires the option to select a defined-contribution plan. They suggested it could help ease any concerns about appeasing younger workers who might want more flexibility with their retirement options.

Still, Killian contended the main conversation should center around trying to protect the pension system.

Beyond issues with attracting and retaining workers, he noted public-sector employees who receive the benefit can retire with more certainty, which helps the state's economy.

"If you jeopardize the pension of these workers, you're also jeopardizing the residual economic benefits that pumping these dollars into the state does," Killian stressed. "And (that) will eventually create kind of a domino or chain reaction that can affect everyone."

The group pointed out in places such as Alaska and Palm Beach, Florida, the closing of pension systems had unintended consequences, where extra costs were incurred to recruit and train workers to fill staffing voids.

The House plan has been estimated to cost roughly $5 billion over 20 years, but sponsors emphasized it would quickly bring more stability to the system. Backers of the Senate plan countered it is less costly in the long run, while still offering a pension to new hires.

Disclosure: The National Public Pension Coalition contributes to our fund for reporting on Budget Policy and Priorities, Livable Wages/Working Families, and Social Justice. If you would like to help support news in the public interest, click here.


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