Operating costs of the retirement and investment office; to provide an exemption; to provide a report; and to declare an emergency.
Impact
The bill introduces a new section to the North Dakota Century Code to establish an incentive compensation program for full-time equivalent positions within the retirement and investment office. This program is designed to reward productivity and profitability while requiring approval from the state investment board. By creating this incentive structure, SB2022 aims to improve the investment strategies employed by the office and ensure effective management of state-controlled funds.
Summary
Senate Bill 2022, passed by the Sixty-eighth Legislative Assembly of North Dakota, addresses the funding and operational framework of the state's retirement and investment office. The bill provides an appropriation of nearly $12 million for the operational costs of this office for the biennium starting July 1, 2023, and ending June 30, 2025. It aims to streamline the office's efficiency through updated appropriations for salaries, operational expenses, and contingencies while introducing new elements geared towards enhancing the management and performance of state funds.
Sentiment
Overall, the sentiment around SB2022 seems supportive, particularly among legislators advocating for more structured management within state offices. Proponents argue that the adjustments in funding and the introduction of performance-based incentives will make the retirement system more robust. However, the exact reception remains nuanced, with some concerns regarding the implications of incentive compensation on public service values and the potential for increased administrative overhead.
Contention
While the bill was decisively approved with a significant majority in both houses, there were discussions regarding the efficacy of such incentive programs in the public sector and their alignment with long-term state interests. Possible points of contention revolve around the balance between incentivizing performance and ensuring accountability within state agencies. As this bill moves forward, the ongoing evaluations of its impact on the retirement system's effectiveness will be crucial.
County achievement days; to provide for a transfer; to authorize a line of credit; to provide an exemption; to provide for a report; and to declare an emergency.
Transfers from the lottery operating fund to the multijurisdictional drug task force grant fund and the salary of the attorney general; to provide a transfer; to provide an exemption; to provide for a legislative management study; and to declare an emergency.
The state leave sharing program, capitol grounds rent collections, and the law enforcement retirement program; to provide for a transfer; to provide an exemption; to provide a report; to provide for a retroactive application; and to provide an effective date.
A transfer of Bank of North Dakota profits to a water infrastructure revolving loan fund; to provide for a transfer; to provide an exemption; to provide for a legislative management study; to provide a report; to provide a penalty; to provide for application; to provide a retroactive effective date; to provide a contingent effective date; to provide an effective date; and to declare an emergency.
The salary of the superintendent of public instruction, baseline funding, high-cost students, and regional library cooperative definitions; to provide for a transfer; to provide for reports; to provide an exemption; to provide an effective date; and to declare an emergency.
A transfer from the strategic investment and improvements fund to the clean sustainable energy fund; to provide a deficiency appropriation; to provide for a transfer; to provide an exemption; to provide for a legislative management study; to provide for a legislative management report; to provide for a report; to provide an effective date; and to declare an emergency.
The legacy investment for technology program, the North Dakota development fund, the workforce enhancement council, the administration of uncrewed aircraft system programs, workforce development grants to tribally controlled community colleges, and a North Dakota development fund grant program; to provide a transfer; to provide an exemption; to provide for a report; and to declare an emergency.
To provide appropriations from the General Fund for the expenses of the Executive, Legislative and Judicial Departments of the Commonwealth, the public debt and the public schools for the fiscal year July 1, 2023, to June 30, 2024, and for the payment of bills incurred and remaining unpaid at the close of the fiscal year ending June 30, 2023; to provide appropriations from special funds and accounts to the Executive and Judicial Departments for the fiscal year July 1, 2023, to June 30, 2024, and for the payment of bills remaining unpaid at the close of the fiscal year ending June 30, 2023; to provide for the appropriation of Federal funds to the Executive and Judicial Departments for the fiscal year July 1, 2023, to June 30, 2024, and for the payment of bills remaining unpaid at the close of the fiscal year ending June 30, 2023; and to provide for the additional appropriation of Federal and State funds to the Executive and Legislative Departments for the fiscal year July 1, 2022, to June 30, 2023, and for the payment of bills incurred and remaining unpaid at the close of the fiscal year ending June 30, 2022.