For Immediate Release: June 23, 2022
Contact: firstname.lastname@example.org; (603) 410-3500, Press 2
CONCORD, NH – Legislation enacted in 2022 will provide a one-time $500 payment to more than 23,000 eligible retirees or beneficiaries receiving a benefit from the New Hampshire Retirement System (NHRS, the retirement system).
House Bill 1535 (Chapter 203, Laws of 2022) grants a one-time allowance of $500 in fiscal year 2023 for annuitants who meet both of the following criteria:
- Members who retired on or before July 1, 2017, or any beneficiary of such member who is receiving a survivor pension benefit.
- The annual retirement allowance of the member or beneficiary as of June 30, 2022, is not greater than $30,000.
The bill was signed by the Governor on June 17, 2022, and takes effect July 1, 2022. The payment will be issued by NHRS as soon as administratively practicable, but no later than November 1, 2022. The state will appropriate the funds for the additional allowances to the retirement system.
NHRS provides retirement, disability, and death benefits to its eligible members and their beneficiaries. The State of New Hampshire and more than 460 local government employers participate in NHRS for their employees, teachers, firefighters, and police officers. NHRS has approximately 48,500 active members and 41,000 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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