AndrewLozovyi / Depositphotos.com
North Dakota is preparing for a period of fiscal tightening as state officials roll out an early retirement incentive plan for state employees to offset declining tax revenues, according to Jeff Beach from the North Dakota Monitor.
Office of Management and Budget Director Joe Morrissette announced that eligible employees will be offered three months of wages and benefits to retire early, provided their agency can demonstrate a cost savings. The move comes as low oil prices and corporate tax changes from the “One Big Beautiful Bill Act” are projected to leave the state with a significantly smaller budget surplus heading into the 2027–29 cycle.
Comments