For Immediate Release: July 3, 2023
Contact: Marty Karlon, Director of Communications & Legislative Affairs, (603) 410-3594; firstname.lastname@example.org
CONCORD, NH – Five bills related to RSA 100-A were enacted by the New Hampshire Legislature during the 2023 session. RSA 100-A is the statute governing the New Hampshire Retirement System (NHRS, the retirement system).
Here is a summary of NHRS-related legislation passed in 2023:
House Bill 2 (Chapter 79, Laws of 2023; multiple effective dates) is the budget trailer bill. Among the NHRS-related sections are:
• Sections 459-461 modify the effective date of the statutory pension recalculation for Group I (Employee and Teacher) members who retire on or after July 1, 2023. The change defers the recalculation of a Group I retiree’s NHRS benefit to his or her full retirement age under the federal Social Security system.
For additional information on this change, click here.
• Sections 344-345 provide a one-time $500 payment in Fiscal Year 2024 to retirees and beneficiaries receiving a monthly benefit. To qualify for the payment, all three criteria must be met:
- The member’s retirement date is on or before July 1, 2018;
- The member retired with at least 20 years of creditable service;
- The annual retirement benefit paid to the member or beneficiary as of June 30, 2023, is not greater than $40,000.
Note: The law requires the payment be issued no later than June 30, 2024. NHRS expects to issue this payment no earlier than March 2024.
For additional information on the $500 payment, click here.
• Sections 68-70 create a commission to study retirement benefits and retention of public employees and issue a report no later than December 1, 2023.
The full text of House Bill 2 is available at:
House Bill 30 (Chapter 9, Laws of 2023; effective July 2, 2023) allows county commissioners to exempt the county chief administrative officer from compulsory NHRS membership at the time of initial hiring or appointment.
The full text of House Bill 30 is available at:
House Bill 193 (Chapter 19, Laws of 2023; effective July 2, 2023) makes various changes to the administration of the NHRS, including clarification of the definition of teacher job share, references to the system's annual comprehensive financial report, and procedures related to the purchase of military service credit while an active member.
The full text of House Bill 193 is available at:
House Bill 278 (Chapter 63, Laws of 2023; effective June 1, 2023) ratifies a provision of RSA 100-A regarding annual employer reporting of hours worked and compensation paid to retired members working part-time for participating employers that was inadvertently repealed. The bill was introduced to correct a recently identified drafting oversight and has no impact of past or future reporting of retiree information.
The full text of House Bill 278 is available at:
House Bill 457 (Chapter 132, Laws of 2023; effective Aug. 29, 2023) requires NHRS to report on a quarterly basis to the office of legislative budget assistant regarding compliance with the duty to make all investment decisions solely in the interest of the participants and beneficiaries. This bill does not change the investment operations of the retirement system in any way; NHRS has always had a legal responsibility to make investment decisions solely in the interest of participants and will continue to do so.
The full text of House Bill 457 is available at:
In 2023, 21 bills related to RSA 100-A were introduced. Pursuant to RSA 100-A:14, XII, NHRS issues a notice to participating employers at the beginning of the legislative session about legislation that may have a cost impact on political subdivision employers. Under the same statute, NHRS notifies employers if legislation with a cost impact is ultimately adopted.
Because the state is providing the funding for the $500 retiree payment, the only legislation with a cost impact on political subdivision employers is the change to the Group I pension recalculation contained in HB 2, which will impact employer contribution rates beginning in Fiscal Year 2026.
Links to the full text and other information on all 2023 NHRS-related legislation is available here.
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 42,000 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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Note: This release was updated on July 17, 2023, to reflect that House Bill 457 has been signed into law.