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 2019 legislation that may have a cost impact on political subdivision employers.
NHRS has extended the monthly deadline for submission of employer contribution payments. Beginning in January, contribution payments will be due to NHRS by the 25th of the month. Submission of employer data reports will remain due by the 15th of the month.
NHRS has released reports for Fiscal Year 2018 related to Governmental Accounting Standards Board (GASB) Statements No. 68 and No. 75.
Legislation that took effect January 1, 2019, changed the laws governing New Hampshire Retirement System (NHRS, the retirement system) retirees working in a part-time position for retirement system participating employers.
Financial report, summary financial report, and investment report available online.
NHRS has released written instructions on how to set “grandfathered” retirees in the Data Reporting System (DRS) beginning in January.
The New Hampshire Retirement System member interest rate for calendar year 2019 will be 5.25 percent.
Legislation passed in 2018 will change the laws governing NHRS retirees working in a part-time position for retirement system participating employers. There is a “grandfathering” provision contained in the law that allows retirees who are working part-time for NHRS-participating employers on the effective date of the law – January 1, 2019 – to work a maximum of 1,664 hours per calendar year for as long as they remain with the employer in the position they held on the effective date of the bill.
NHRS is in the process of creating an online format to document grandfathered retirees. The grandfathering portal will not be available until after January 1, 2019.
A letter from the Executive Director: It has been some time since I shared an open letter with our members, retirees, beneficiaries, and other stakeholders. With the conclusion of the Decennial Commission in January 2018, and of our most recent fiscal year on June 30, I thought a look back at the significant changes made to NHRS over the past 10-plus years would be worthwhile. Overall, the retirement system is in a much better position today than it was a decade ago, however, our journey is far from over.
NHRS realized an 8.9% return on investments in the fiscal year ended June 30, 2018, outperforming the Total Fund benchmark return of 7.8% and the retirement system’s assumed rate of investment return of 7.25%. At the close of the fiscal year, the retirement system’s unaudited net position held in trust was $8.87 billion, an increase of $581 million over the prior fiscal year.
Legislation taking effect next year will change the laws governing New Hampshire Retirement System retirees who work part-time for retirement system participating employers. These changes also will impact how employers report retiree data to NHRS.
Information in the reports will help employers comply with new financial reporting standards.
The NHRS Board of Trustees certified employer contribution rates for fiscal years 2020 and 2021 at its meeting on September 11, 2018.
Four new appointees recently joined the Board of Trustees of the New Hampshire Retirement System.
Daniel LaPlante of Hancock was recently appointed to the NHRS Independent Investment Committee (IIC) as a public member.
The Fiscal Year 2018 Member Annual Statements for all NHRS members who are not yet retired have been posted to My Account, the retirement system’s secure online portal.
NHRS has again been recognized by the Government Finance Officers Association of the United States and Canada (GFOA) for its annual financial reports.
Seven bills related to RSA 100-A were enacted by the New Hampshire Legislature during the 2018 session and signed into law by the Governor.
Legislation passed in 2018 will change the laws governing NHRS retirees who work part-time for retirement system participating employers. The changes take effect January 1, 2019.
Legislation enacted in 2018 will provide a one-time $500 payment to eligible NHRS retirees.