For Immediate Release: February 6, 2017
Contact: 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 posted on the General Court website following the NHRS employer notice of January 26, 2017. NHRS will send further notifications if additional legislation with a financial impact is introduced.
HB 631: This bill establishes a cash balance pension plan for retirement system members who begin service with the state on or after July 1, 2017. Teacher, police, fire, and employee members of political subdivision employers hired on or after July 1, 2017, would become cash balance plan members if their employers elect to participate in the plan.
SB 231: This bill allows a part-time judge of the circuit court to retire and collect a pension under the provisions of RSA 100-A and elect senior active or judicial referee status.
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:
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 33,000 pension 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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