Vested Deferred Retirement
Group II (Police and Fire) Members hired on or after July 1, 2011
Eligibility for Vested Deferred Retirement
Even if a member’s active NHRS membership ends prior to eligibility for Service Retirement, the member may be entitled to a Vested Deferred Retirement pension from NHRS in the future under the following conditions:
- The member has a minimum of 10 years of Creditable Service when the member terminates active membership; AND
- The member does not withdraw his/her accumulated contributions from NHRS. (A member’s accumulated contributions are equal to the sum of all mandatory NHRS contributions deducted from a member’s compensation, any additional contributions and any contributions made by a member for purchases of service credit, plus credited interest.)
Members who occupied a police or fire position and meet the conditions listed above will be eligible for a Vested Deferred Retirement pension at the earlier of age 60 OR when they would have completed 25 years of Group II service, but not before age 50. Generally, members will not receive a Vested Deferred Retirement pension until the age of 52.5. However, with at least 25 years of Creditable Service, members may receive a reduced allowance at or after age 50.
The benefit will be computed using the appropriate Group II Service Retirement pension formula for members hired on or after July 1, 2011 when a member’s Vested Deferred Retirement pension begins at age 52.5 or older.
The benefit will be computed using the Service Retirement pension formula and appropriate reduction factor when a member who has at least 25 years of service begins collecting a Vested Deferred Retirement pension at or after age 50 but prior to age 52.5. The Vested Deferred Retirement pension will be reduced by ¼ of one percent for each month prior to age 52.5 the member’s pension commences.
Split Benefits – Service in Both Group I and Group II
Different provisions may apply to members with Split Benefits. Contact NHRS to speak with a Benefits Specialist.
Filing for Vested Deferred Retirement
Vested Deferred Retirement pensions do not begin automatically. In order to receive a Vested Deferred Retirement pension, members must file for benefits.
Death of Members Who Are Not in Active Service
If a vested member’s death occurs after active NHRS membership ends and before the member receives a pension, a refund of the member’s accumulated contributions will be payable to the member’s designated beneficiary(ies) or estate.