Benefits

NHRS provides four types of retirement benefits:

Service | Early Service | Vested Deferred | Disability 

Nearly 90 percent of NHRS retirees receive Service or Early Service retirement pensions; Service, Early Service, and Vested Deferred retirement pension benefits are calculated based on three factors: years of creditable service, average final compensation (AFC) - which is the average of a member’s three or five highest-paid years (depending on vested status as of January 1, 2012) - and a benefit factor that is different for members of Group I and Group II.

Retirement Benefit Summaries

Benefit eligibility and pension formulas vary depending on membership status as of July1, 2011, and/or vested status January 1, 2012.

• Group I (Employee and Teacher) Members vested prior to January 1, 2012
• Group I (Employee and Teacher) Members not vested prior to January 1, 2012 but hired prior to July 1, 2011
• Group I (Employee and Teacher) Members hired on or after July 1, 2011
• Group II (Police and Fire) members vested prior to January 1, 2012
• Group II (Police and Fire) members not vested prior to January 1, 2012 but hired prior to July 1, 2011
• Group II (Police and Fire) members hired on or after July 1, 2011