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Requirements for Becoming an Authorized Provider Representative

In order for you to act as a deferred compensation provider representative and be included on the list of provider representatives distributed by the NDPERS office to participants, you must satisfy the following requirements:

(1) You must be an authorized representative of one of the following provider companies:

(2) You must be certified by your provider company before you may enroll or recruit eligible participants.

(3) You must be licensed with the North Dakota State Securities Commissioner for the sale of registered or unregistered securities or the North Dakota State Insurance Commissioner for the sale of insurance contracts or policies or both.

(4) You must be fully trained to explain various investment options available through the provider, and be able to explain provisions of the deferred compensation program as is found under Section 457 of the Internal Revenue Code.

(5) You must comply with the provisions of North Dakota Administrative Code 71-04-06. (Provided in the back of the Provider Representative Handbook).

If you are working with a participant whose employer does not operate through the State's Central Payroll system, it will be necessary for you to set up a mechanism for the participant's payroll representative to submit deferrals to the provider company you represent. As an authorized provider representative, you will be expected to complete all necessary paperwork accurately. To assist you with this responsibility, enclosed in the Provider Handbook are sample forms and instructions for completion of the forms. Incomplete or incorrect paperwork may be returned, resulting in a delay of deferrals. Forms must be submitted to NDPERS no later than the 15th of the month after the election is made. In the event you do not understand what is required on a NDPERS form after you have read the instructions in this book, please contact the NDPERS office. As provided in the standard provider agreement, it is assumed you will receive information and education about Section 457 regulations from the provider company you represent and attend training sessions required by the NDPERS Board.

Thank you for your interest in the North Dakota Public Employees Deferred Compensation Plan. We look forward to working with you.