Section 82-03-01-09 - Employer service purchaseAn employer may elect to purchase up to three years of service credit for an active employee. In order to make the purchase, an employer must develop an employer service purchase program as outlined below:
1. The program must be in writing and meet all the conditions and member eligibility requirements in North Dakota Century Code section 15-39.1-33. 2. The program must be in compliance with the federal Age Discrimination in Employment Act and other federal and state laws. 3. The program must include specific guidelines for determining for whom the employer will purchase service credit. 4. The employer must not give the employee the option of a cash payment in lieu of the employer service purchase. 5. The employer must certify in writing that the program meets the necessary legal requirements prior to making the employer service purchase. 6. The teachers' fund for retirement will provide the purchase price amount to the employer. 7. If the service is purchased, the teachers' fund for retirement will credit the service to the member. N.D. Admin Code 82-03-01-09
General Authority: NDCC 15-39.1-07
Law Implemented: NDCC 15-39.1-33