Section 71-02-08-05 - Merger of eligible employer groupsIf a merger between two or more eligible employer groups occurs, the following requirements apply:
1. Written notification must be provided to the office no later than sixty days before the merger is final. 2. When two or more employer groups merge into one, and all do not presently participate in the public employees retirement system, the units merging must decide upon one of the following: a. The participating employer or employers may elect to cease participation as of the date of the merger, subject to payment of any actuarial liabilities accrued. An actuarial study must be conducted at the cost of the exiting employer upon providing the public employees retirement system with written notice of the employer's election to cease participation. b. Subject to executing a revised participation agreement, eligible employees who have not previously participated shall be given the opportunity to participate or waive participation effective the date of the merger. Any person hired in an eligible position after the consolidation date must participate. N.D. Admin Code 71-02-08-05
General Authority: NDCC 54-52-04
Law Implemented: NDCC 15-10-17, 54-52-02.1