NHRS has developed a set of written instructions explaining how to clear some of the most common exceptions found during the monthly reporting process.
The NHRS Board of Trustees voted unanimously to adopt a revised actuarial assumption for payroll growth for Group I teacher members in response to the continued decline in the number of active teachers.
Scott Myers, the city manager of Laconia, was recently appointed to the NHRS Board of Trustees as employer member.
Christine Clinton of Dublin was recently appointed to the NHRS Independent Investment Committee (IIC) as a public member.
Timothy Lesko of Hopkinton was recently appointed to the NHRS Board of Trustees as a public member.
A statutory commission charged with reviewing and making recommendations to ensure the long-term viability of the New Hampshire Retirement System issued its final report in January.
Information in the reports will help employers comply with financial reporting requirements
Employer contribution costs will not be impacted
The New Hampshire Retirement System member interest rate for calendar year 2018 will be 5.25 percent.
Larry Johansen, NHRS Director of Investments, was recently recognized as one of the top 30 pension chief investment officers in the country by Trusted Insight, an investment trade publication.
My Account, the secure online portal for New Hampshire Retirement System members and retirees, is now available for new account creation following a security upgrade.
NHRS realized a 13.5% return on investments in the fiscal year ended June 30, 2017, outperforming the Total Fund benchmark return of 11.9%. At the close of the fiscal year, the retirement system’s unaudited net position held in trust was $8.29 billion, an increase of approximately $820 million over the prior fiscal year.
Authorized employers and third party administrators now have the ability to process retiree insurance authorizations and manage insurance benefit changes through the Data Reporting System (DRS). This new insurance feature will save time over the current process, where employers must submit paper forms and rely on NHRS to complete various insurance authorizations.
Group is tasked with making recommendations to ensure the long-term viability of NHRS
Three bills related to RSA 100-A were enacted by the New Hampshire Legislature during the 2017 session and signed into law by the Governor. RSA 100-A is the statute governing NHRS. All three bills deal with administrative issues and do not impact contributions or pension benefit formulas.
In an effort to inform stakeholders and other interested parties, the New Hampshire Retirement System has developed “NHRS … Now You Know,” a series of issue briefs designed to provide plain talk about some of the major topics concerning the retirement system. The latest issue brief, “The bottom line on alternatives,” is now available.
NHRS is providing updated guidance regarding the assessment of employer interest penalties for late or inaccurate reporting of active member data and/or late contribution payments.
NHRS makes available to participating employers an XML Schema Verification Application that allows employers who submit monthly wage and contribution data for active members via an XML file to test whether their file is valid before uploading it. The integrity of the data NHRS receives from its employers is crucial to our ability to effectively administer retirement benefits. The XML file verification process is only the first stage of a multi-level review of employer-submitted files. Beginning April 28, 2017, the processing of XML files will be automated and employer-submitted XML files that do not match the schema will be rejected by the Data Reporting System (DRS). Previously, NHRS staff validated the files manually before moving them into the DRS, and would notify an employer if their file had issues.
NHRS has released its Comprehensive Annual Financial Report, Summary Annual Financial Report, and Comprehensive Annual Investment Report for the fiscal year ended June 30, 2016.
The retirement system has made upgrades to its website so members can now apply for service or vested deferred retirement benefits online; and retirees now have the option to have their pension payments deposited directly into more than one account.