Building a pot big enough to fund decades of retirement can be tricky for people who have not faithfully contributed toward a pension for most of their career. Edmund Platt, a 57-year-old from Preston, admits that he has not always managed to make the habit stick.
"At over $4 billion dollars difference, HB 1040 is about to be the most expensive mistake in the history of the state of North Dakota," says pension director Scott Miller. He's wrong.
"It may be politically expedient to try to hide the costs of moving away from a defined-benefit pension now, but it will make the transition more expensive, and more likely to fail, in the long run."