NHRS Releases GASB 68 and GASB 75 Reports for Fiscal Year 2022

  • Employers

NHRS has released reports for Fiscal Year 2022 related to Governmental Accounting Standards Board (GASB) Statements No. 68 and No. 75.

Watch Out for Misleading Emails

  • Members
  • Employers

NHRS has become aware of emails members have received recently from third parties containing a link to sign up for a free retirement appointment.

NHRS Releases 2022 Annual Reports

  • Summary ACFR
  • CAIR
  • ACFR

The retirement system has released its Annual Comprehensive Financial Report, Summary Annual Financial Report, and Comprehensive Annual Investment Report for the fiscal year ended June 30, 2022.

NHRS Member Interest Rate for Calendar Year 2023

  • Members

The New Hampshire Retirement System member interest rate for calendar year 2023 will be zero percent.

NHRS Receives Award for Financial Reporting

  • ACFR

NHRS has again been recognized by the Government Finance Officers Association of the United States and Canada (GFOA) for its annual financial report.

IRS-Required Changes to Form W-4P in 2023

  • Retirees

To match individuals’ withholding instructions to changes in tax law, the IRS has redesigned tax withholding forms for both monthly pensions and annuities and one-time payments and rollovers. Use of these forms was optional for tax year 2022, however the IRS requires that the new forms must be used beginning January 1, 2023.

Two New Members Join NHRS Board

  • Board of Trustees

Two new members recently joined the NHRS Board of Trustees.

NHRS Realizes -6.1% Investment Return in Fiscal Year 2022

  • Investments

The New Hampshire Retirement System realized a negative 6.1% return on investments in the fiscal year ended June 30, 2022. The three-year, five-year, 10-year, and 25-year returns for the periods ended June 30, 2022, were 7.1%, 7.2%, 8.5%, and 6.9%, respectively. All returns are net of fees. The retirement system’s assumed rate of investment return is 6.75%.

Frederick Joins NHRS Board

  • Board of Trustees

Jon Frederick was recently appointed to the NHRS Board of Trustees as an employer member representing the NH Municipal Association.

Member Annual Statements Available on My Account

  • Members

The Fiscal Year 2022 Member Annual Statements for all New Hampshire Retirement System members who are not yet retired have been posted to My Account, the retirement system’s secure online portal.

NHRS Hires New Chief Investment Officer

  • NHRS

The New Hampshire Retirement System has hired Raynald Leveque to serve as Chief Investment Officer (CIO), effective October 1.

NHRS 2024-25 Employer Contribution Rates

  • Employers

The NHRS Board of Trustees certified employer contribution rates for fiscal years 2024 and 2025 at its meeting on July 12, 2022. Employer contribution rates for the four membership classifications – Employee, Teacher, Police, and Fire – will decrease from the current rates beginning July 1, 2023.

NHRS 2022 Legislative Update

  • Retirees
  • Employers
  • Members

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.

HB 1535: Eligible Retirees to Receive One-time Payment of $500

  • Legislation
  • Retirees

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.

HB 1587: Average Final Compensation Calculation for Certain Group II Members

  • Members

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.

HB 1221: One-time Employer Contribution Reimbursement

  • Legislation
  • Employers

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.

SB 363: Nonqualified Service Purchase for Certain Group II Members

  • Legislation
  • 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 Attachments to General Information Inbox

  • Employers
  • Retirees
  • Members

NHRS will no longer accept email attachments to its general information email address effective August 1, 2022.

NHRS Statement on Russian Holdings

  • Independent Investment Committee

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 Releases GASB 68 and GASB 75 Reports for Fiscal Year 2021

  • GASB

NHRS has released reports for Fiscal Year 2021 related to Governmental Accounting Standards Board (GASB) Statements No. 68 and No. 75.