Section 71-02-06-04 - Adjustment for bonuses, profit sharing, and contributions paid in a month other than month earnedAdjustments for the following must be made for all members:
1. Participating employers shall report bonuses or profit-sharing amounts paid when remitting the contribution associated with the bonus. Recruitment and retention bonuses under North Dakota Century Code section 54-06-31 are not eligible for consideration as salary and no contributions associated with those types of bonuses shall be submitted.2. Bonuses or profit-sharing amounts paid by a participating employer other than pursuant to North Dakota Century Code section 54-06-31 will be retroactively prorated over the applicable prior twelve month period. Bonuses or profit-sharing amounts may not be submitted to the public employees retirement system for future months.3. Upon receiving notice of contributions received in a month other than the month earned, the office will assign contributions to the appropriate month.N.D. Admin Code 71-02-06-04
Effective June 1, 1993; amended effective June 1, 1996; July 1, 1998; July 1, 2000; April 1, 2002; April 1, 2008.Amended by Administrative Rules Supplement 369, July 2018, effective 7/1/2018.General Authority: NDCC 54-52-04
Law Implemented: NDCC 54-52-05, 54-52-06