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Current as of January 01, 2024 | Updated by Findlaw Staff
Any employee who shall have contributed to the city employees' pension fund, and who voluntarily and while in good standing as an employee of said city shall have left the employment of such city, shall be entitled, upon application at the time of such retirement, to a refund of all contributions made by the employee without interest and exclusive of the membership fee, payable in a lump sum. If a participant dies and no dependent benefits are payable, the participant's named beneficiary or estate shall receive the participant's contributions without interest, less any benefit payments theretofore received. Any employee who shall have served one hundred eighty months or more, but less than two hundred forty months, and who shall have contributed to the city employees' pension fund, and who voluntarily and while in good standing as an employee of said city shall have left the employment of such city, shall be entitled to elect retirement instead of refund, but at a pension equal to the proportion of a full pension as herein provided which the total number of months employed under the plan bears to two hundred forty months, but no pension shall be paid while the employee lives until the employee reaches the age of sixty years.
Cite this article: FindLaw.com - North Dakota Century Code Title 40. Municipal Government § 40-46-20. Employee entitled to refund from fund or partial retirement upon termination of employment with city - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-40-municipal-government/nd-cent-code-sect-40-46-20/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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