Employer News Blog

News and notes for NHRS employers

This page contains items in the current employer newsletter, along with timely items from prior newsletters.(Sometimes, you might even find some items slated for upcoming newsletters that we want to share early.)

    Reporting and Payment Penalties Reminder

    Aug 09, 2017
    In May, NHRS sent out a notice providing updated guidance regarding the assessment of employer interest penalties for late or inaccurate reporting of active member data and/or late contribution payments. This follow-up notice is being sent as a reminder that, effective August 15, 2017, NHRS will assess penalties for employer files that are not free of exceptions and posted by the 15th of the month. As a courtesy, NHRS will automatically waive the interest penalty for the first three months. Effective November 15, 2017, employers will need to request a waiver of any penalties in writing.
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    Reminder: New NHRS Employer Contribution Rates Effective July 1, 2017

    May 25, 2017
    NHRS employer contribution rates for fiscal year 2018 take effect for all Earnable Compensation paid on or after July 1, 2017. NHRS released these rates in September 2016 and is posting this message as a reminder.
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    Former Sen. Janeway recognized for service to NHRS

    May 11, 2017
    Last month, former state Sen. Harold Janeway retired as the Chair of the NHRS Independent Investment Committee (IIC), a position he has held since its creation in 2009. He was also the Chair of the investments sub-committee of the 2007 retirement commission that developed the initial recommendation to create the IIC, and as a state senator, he shepherded the bill through the legislative process. All of us at NHRS wish the senator all the best in his retirement and offer our assurances and commitment that the IIC will continue to follow the road map that he so expertly charted ten years ago. -- Dr. Richard Gustafson, Chair, Board of Trustees, and George P. Lagos, Executive Director, NHRS
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    Reporting and Payment Penalties

    May 08, 2017
    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.
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    In Case You Missed It: Spring 2017

    Apr 07, 2017
    Here are links to some NHRS news releases and other communications in recent months that we didn't want you to miss.
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    NHRS Celebrates Its 50th Anniversary

    Apr 06, 2017
    NHRS marks its 50th birthday in 2017 – on July 1, to be exact. To mark this golden anniversary, we’re posting facts about the retirement system, photos of current and former members, and other related material throughout the year on our website and on social media.
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    Top 10 Employer Audit Issues

    Mar 21, 2017
    The NHRS audit team works with participating employers to ensure that required information is provided to the retirement system in a manner consistent with the law. Because of various legislative changes to the pension plan in recent years, particularly changes to the definition of earnable compensation, a number of common issues are appearing in employer audits. NHRS encourages all employers to review the following list of common audit findings to ensure they are in compliance with the statute.
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    Reporting Compensation Over Base Pay

    Mar 17, 2017
    During the course of recent employer compliance audits, it was discovered that some employers are still not using the Compensation Over Base field when reporting member compensation through the NHRS Data Reporting System (DRS). Effective January 1, 2012, employers have been required to report certain compensation in the Compensation Over Base field.
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    Additional Guidance Regarding Extra and Special Duty Pay

    Mar 10, 2017
    NHRS has posted a revised version of Interpretive Memorandum 2013-3 regarding Extra and Special Duty Pay (ESDP).
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    Employer Notice: Resources for New Members

    Jan 27, 2017
    As a part of its ongoing effort to help educate its members about retirement, the New Hampshire Retirement System has created an online presentation and FAQ for new members called “Learning About Your Retirement Plan.”
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    Retiree Tax Questions Regarding Insurance

    Dec 28, 2016
    NHRS received a number of tax-related inquiries in early 2016 from retirees looking for the amount of insurance premiums withheld from their pension benefits. The retirement system expects to receive these inquiries again in 2017.
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    NHRS Releases 2016 Annual Reports

    Dec 28, 2016
    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.
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    Report Looks at State Budget Impact

    Dec 19, 2016
    A recent issue brief from the Center for Retirement Research at Boston College looks at this question: “Will pensions and OPEBs break state and local budgets?”
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    NHRS 2016 Law Book

    Dec 19, 2016
    As a courtesy to its participating employers, NHRS is providing each employer with a copy of the 2016 NHRS statutory provisions book (“law book”).
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    Proudly Displaying Our Mission

    Dec 16, 2016
    This fall, NHRS re-vamped its Mission, Vision and Values statement. The core commitments didn’t change, but the new version is more concise, memorable, and forward-focused. A poster-size copy signed by the entire staff is now hanging in our reception area.
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    ‘Forgot Your Password?’ Feature Now Available for the Data Reporting System

    Nov 14, 2016
    Employers who use the New Hampshire Retirement System’s (NHRS) Data Reporting System (DRS) are now able to reset their password without calling the NHRS office for assistance.
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    Director of Employer Services Denise Call Retires

    Oct 18, 2016
    After 42 years of service to the New Hampshire Retirement System, Director of Employer Services Denise Call will retire November 1.
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    Get the Most Up-to-Date Information

    Sep 30, 2016
    NHRS updates the information on its website as a result of changes in law, as well as in response to technological changes. If you have copies of old NHRS forms, presentations, and employer guidance, please make sure it is the most recent version.
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    Shared and Loaned Employees

    Aug 15, 2016
    NHRS is aware of an increase in situations where participating employers are using shared or loaned employees. Fiscal and workforce challenges have caused some employers to seek innovative solutions to their staffing needs. This includes the utilization of one person to provide services to two or more employers. These arrangements may be structured in several ways and NHRS is still evaluating what, if any, impact this may have with respect to NHRS administration on such matters as enrollment, participation, creditable service, and “earnable compensation.” In the meantime, we strongly encourage participating employers to call NHRS for guidance when contemplating the implementation of such arrangements as any impact regarding NHRS administration is “fact specific” on a case-by-case basis.
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    NHRS Provides Guidance on Treatment of Salary Continuance Payments

    Jul 19, 2016
    NHRS has released a new Interpretive Memorandum providing guidance on how Service Credit is awarded and Earnable Compensation is calculated for members who receive compensation under an employer-sponsored salary continuance plan.
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