NHRS realized a 1.1% return on investments in the fiscal year ended June 30, 2020. The three-year, five-year, 10-year, 20-year, and 25-year returns for the periods ended June 30, 2020, were 5.2%, 5.9%, 8.7%, 5.4%, and 7.5%, respectively. All returns are net of fees. The retirement system’s assumed rate of investment return is 6.75%.
NHRS responds to a recently received inquiry regarding the membership eligibility of retired teachers who are willing to sign contracts to teach as long-term, full-time substitutes for the 2020-21 school year.
The NHRS Board of Trustees voted to adopt revised actuarial assumptions based on the results of a four-year experience study conducted by its consulting actuary. In an accompanying vote, the Board voted to reduce the retirement system’s investment assumption, lowering the assumed rate of return from 7.25 percent to 6.75 percent.
Timothy Lesko of Hopkinton was recently appointed to chair the New Hampshire Retirement System Board of Trustees.
Over the past seven years, Dr. Dick Gustafson has led the Board in overseeing the operation of one of the state’s largest financial institutions, with over $9 billion in assets, 465 participating public employers, and 100,000 members, retirees, and beneficiaries. Having completed his latest term on the Board last summer, Dr. Gustafson has recently stepped down after continuing for several months in holdover status.
Written instructions for reporting calendar year data on NHRS retirees (HB 561) is available for participating employers.
In an effort to inform stakeholders and other interested parties, the 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, “Good governance is fundamental,” is now available.
House Bill 616 grants a one-time, 1.5% COLA on the first $50,000 of an annual pension benefit to members who retired on or before July 1, 2014, or any beneficiary of such member who is receiving a survivorship pension benefit. The COLA will take effect on the retired member’s first anniversary date of retirement occurring after July 1, 2020.
House Bill 468 adds annual attendance stipends or bonuses to the definition of earnable compensation for all members and also enables wages paid to full-time Community College System of New Hampshire (CCSNH) faculty for teaching summer courses to be included as earnable compensation. Both changes are effective September 10, 2019.
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, “Separating myth from reality,” is now available.
In an effort to inform stakeholders and other interested parties, the 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, “Different roles, different responsibilities,” is now available.
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.
The New Hampshire Supreme Court released a unanimous decision yesterday that upheld several changes to NHRS benefit provisions enacted by the Legislature in 2011.
In an effort to inform stakeholders and other interested parties, the 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, “Fiduciary: A word worth knowing,” deals with fiduciary responsibility.
NHRS has added a new page to its website listing approximately 325 terminated members who left service prior to 2008 and whom NHRS has been unable to locate to return their accumulated contributions.
The New Hampshire Supreme Court released a unanimous decision earlier today upholding amendments to RSA 100-A – the law governing the New Hampshire Retirement System – enacted in 2007 and 2008 regarding cost-of-living adjustments (COLAs) and the definition of “earnable compensation.” As a result of the decision, the legislative changes remain in effect.
The New Hampshire Supreme Court released a unanimous decision earlier today finding that New Hampshire Retirement System members do not have a contractual right to a fixed contribution rate. The decision reversed a lower court ruling that the July 1, 2011, increase to member contribution rates enacted in House Bill 2 (Chapter 224, Laws of 2011) violated the contract clause of the state and federal constitutions for “vested” members with 10 or more years of creditable service in the retirement system on or before the effective date of the contribution increase.
The New Hampshire Supreme Court recently ruled that legally separated partners are still considered spouses with regard to eligibility for New Hampshire Retirement System spousal benefits including the Medical Subsidy and the Group II (Police and Fire) Automatic Spousal Allowance.
A decision issued today (September 30, 2014) by the New Hampshire Supreme Court does not change the statutory definition of part-time employment for New Hampshire Retirement System retirees working for NHRS participating employers.
The New Hampshire Retirement System recently received a question from a participating employer regarding whether members can pay both the member contributions due under RSA 100-A:16, I, and the employer contributions due under RSA 100-A:16, II and III. The retirement system is issuing this notice to participating employers to reiterate that members are not permitted to make employer contributions under RSA 100-A:16.