The New Hampshire Retirement System has hired Raynald Leveque to serve as Chief Investment Officer (CIO), effective October 1.
Seven bills related to RSA 100-A were enacted by the New Hampshire Legislature during the 2022 session and signed into law by the Governor.
Legislation enacted in 2022 will provide a one-time $500 payment to more than 23,000 eligible retirees or beneficiaries receiving a benefit from NHRS.
Legislation enacted in 2022 will modify the calculation of compensation paid in excess of the full base rate of pay under the definition of Average Final Compensation for Group II (Police and Fire) members who commenced service prior to July 1, 2011, and who had not attained vested status prior to January 1, 2012.
Legislation enacted in 2022 will require the State of New Hampshire to reimburse 7.5 percent of local employer contributions to NHRS made in fiscal year 2022 for Group I teachers and Group II police and fire members.
Legislation enacted in 2022 will allow active members who commenced Group II (Police and Fire) service between January 1, 2002, and June 30, 2011, to purchase nonqualified service time in order to reduce the minimum age and service requirements for retirement that were enacted in 2011. Implementation of SB 363 requires significant computer programming and NHRS is unable to accept requests for service purchase cost calculations until the law takes effect.
NHRS will no longer accept email attachments to its general information email address effective August 1, 2022.
The NHRS Independent Investment Committee unanimously voted to direct its external separate-account managers to sell the Russian assets held in the NHRS portfolio as soon as practical and prudent. As of March 1, the combined value of these investments was just under $4 million, or 0.00035 percent of a total portfolio of nearly $11.5 billion.
NHRS realized a 29.4% return on investments in the fiscal year ended June 30, 2021. The three-year, five-year, 10-year, 20-year, and 25-year returns for the periods ended June 30, 2021, were 11.4%, 11.3%, 9.3%, 7.2%, and 7.9%, respectively. All returns are net of fees. The 29.4% return exceeded the total fund benchmark of 24.3%.
One bill related to NHRS was enacted by the New Hampshire Legislature during the 2021 session and signed into law by the Governor. The bill has no impact on members or retirees.
In an effort to inform stakeholders and other interested parties, the NHRS has developed “NHRS … Now You Know,” a series of issue briefs designed to provide plain talk about some of the topics concerning the retirement system.
The NHRS Board of Trustees has named Jan Goodwin to lead the retirement system as Executive Director, effective April 1, 2021. Goodwin is joining NHRS after leading the New Mexico Educational Retirement Board (NMERB) since 2008. She replaces George Lagos, who is retiring March 1.
NHRS responds to a recently received inquiry regarding the membership eligibility of retired teachers who are willing to sign contracts to teach as long-term, full-time substitutes for the 2020-21 school year.
Written instructions for reporting calendar year data on NHRS retirees (HB 561) is available for participating employers.
In an effort to inform stakeholders and other interested parties, the retirement system has developed “NHRS … Now You Know,” a series of issue briefs designed to provide plain talk about some of the major topics concerning the retirement system. The latest issue brief, “Good governance is fundamental,” is now available.
House Bill 468 adds annual attendance stipends or bonuses to the definition of earnable compensation for all members and also enables wages paid to full-time Community College System of New Hampshire (CCSNH) faculty for teaching summer courses to be included as earnable compensation. Both changes are effective September 10, 2019.
In an effort to inform stakeholders and other interested parties, the New Hampshire Retirement System has developed “NHRS … Now You Know,” a series of issue briefs designed to provide plain talk about some of the major topics concerning the retirement system. The latest issue brief, “Separating myth from reality,” is now available.
In an effort to inform stakeholders and other interested parties, the retirement system has developed “NHRS … Now You Know,” a series of issue briefs designed to provide plain talk about some of the major topics concerning the retirement system. The latest issue brief, “Different roles, different responsibilities,” is now available.
A statutory commission charged with reviewing and making recommendations to ensure the long-term viability of the New Hampshire Retirement System issued its final report in January.
The New Hampshire Supreme Court released a unanimous decision yesterday that upheld several changes to NHRS benefit provisions enacted by the Legislature in 2011.