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How to use or fill out Rollover request for service credit purchases - State of North Dakota - nd
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In Part A, provide your name, NDPERS Member ID, last four digits of your Social Security Number, date of birth, type of service credit, number of months of credit, and the maximum rollover/transfer amount.
Move to Part B. Here, indicate your request for NDPERS to accept your eligible rollover distribution/transfer. Select the type of account from which you are rolling over funds and enter the plan/provider company name along with the amount being transferred.
Sign and date the form in Part B. Ensure you include your telephone number for any follow-up communication.
If applicable, complete Part C by having the administrator of your eligible retirement plan or IRA custodian fill in their details and sign where required.
Finally, review all sections for accuracy before submitting the form along with your rollover/transfer funds to NDPERS.
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General employees contribute 5.0% of salary to the North Dakota PERS. Employers contribute 5.12% to the fund for general employees. Each dollar invested by North Dakota taxpayers in PERS supported $8.94 in total economic activity in the state.
How does North Dakota teacher retirement work?
The more service credit you have at retirement the higher your benefit will be. One way to increase your benefit is to purchase service credit and the sooner you make the purchase the less expensive it will be.
What is the Ndpers service credit?
You receive one month of service credit for each month that retirement contributions are received by NDPERS on your behalf. The option to buy service credits (months or years) that will impact your retirement benefit formula by increasing your Years of Service (YOS) factor.
What is a service credit in a pension plan?
You earn service credit for each year or partial year you work for a CalPERS-covered employer. It accumulates on a fiscal year basis (July 1 through June 30) and is one of the factors we use to calculate your future retirement benefits.
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