NDAC 71-02-06-04

Adjustment for bonuses, profit sharing, and contributions paid in a month other

Last amended: 2018Year: 2026Length: 133 wordsOfficial source

Cite as N.D. Admin. Code ยง 71-02-06-04

than month earned. Adjustments 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.