N.D. House rejects closing state pension funds

BISMARCK, N.D. (AP) — North Dakota's House has turned down proposals to close state pension funds for public school teachers and government workers.

The bills would have prevented newly hired workers from joining the funds. Instead, they would have been put into 401(k)-style retirement plans that don't offer guaranteed benefits.

There were separate votes on the two funds.

The House bill to close the state pension fund for government workers fell one vote short. The tally was 47-46 in favor, but any House bill needs at least 48 votes to be approved.

Shortly afterward, the House voted 56-38 to defeat a proposal to close the state teachers’ retirement fund to newly hired teachers.

Instead, House members approved a bill to increase contributions to the teachers’ retirement fund to shore up its finances.

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