Overpayment of retirement benefits - Write-offs.

82-05-03-03. Overpayment of retirement benefits - Write-offs. All overpayments must be collected using the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent person acting in like capacity and familiar with such matters would use in the conduct of an enterprise of like character and with like gains. If the cost of recovering the amount of the overpayment of retirement benefits is estimated to exceed the overpayment, the teachers' fund for retirement may consider the repayment to be unrecoverable and written off. History: Effective April 1, 2016; amended effective April 1, 2024. General Authority: NDCC 15-39.1-07 Law Implemented: NDCC 15-39.1-29, 15-39.1-31