For Immediate Release:
January 13, 2020
Marty Karlon, Public Information Officer, (603) 410-3594; [email protected]
CONCORD, NH – Pursuant to RSA 100-A:14, XII, the New Hampshire Retirement System (NHRS, the retirement system) is issuing this notice to inform NHRS participating employers about legislation that may have a cost impact on political subdivision employers. The following legislation has been introduced as of January 10, 2020. NHRS will send further notifications if additional legislation with a financial impact is introduced.
House Bill 1205: This bill links the recalculation of a Group I retiree’s annuity to his or her full retirement age under the federal Social Security system.
House Bill 1341: This bill changes the application of 2011 amendments to certain Group II retirement system provisions for Group II members who are in vested status prior to July 1, 2021.
House Bill 1550: This bill extends accidental death benefits for Group II members of the retirement system suffering from heart attacks.
House Bill 1561: This bill allows county commissioners to exempt the county chief administrative officer from compulsory membership in the state retirement system.
For more details on a particular bill, visit the State of New Hampshire General Court’s website at http://gencourt.state.nh.us/. Fiscal impact notes for bills will be posted with the text of the bill on the General Court website when they become available.
For a list of all NHRS-related bills introduced this session, see: https://www.nhrs.org/about-nhrs/legislative-updates
NHRS provides retirement, disability, and death benefits to its eligible members and their beneficiaries. The State of New Hampshire and nearly 470 local government employers participate in NHRS for their employees, teachers, firefighters, and police officers. NHRS has approximately 48,000 active members and 38,000 benefit recipients. NHRS administers a defined benefit plan qualified as a tax-exempt entity under sections 401(a) and 501(a) of the Internal Revenue Code.
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