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.)

    The importance of termination forms

    Apr 20, 2018
    NHRS cannot finalize the retirement benefit payment for a new retiree until the employer submits a termination form. An extended delay in finalizing the benefit may have an adverse impact on your former employee, so it's really important that employers submit these forms to the retirement system promptly.
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    Validating XML files

    Mar 02, 2018
    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. By using the XML Schema Verification Application to verify a file before uploading it to the DRS, employers can address issues with the file proactively, saving themselves time by eliminating the need for multiple phone calls and emails to resolve any issues.
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    Employer resource page

    Jan 08, 2018
    NHRS recently added a new page to our website that provides a complete index of existing materials for employers.
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    In Case You Missed It: Winter 2018

    Jan 08, 2018
    Here are links to some NHRS news releases and other communications from the winter of 2018 that we didn't want you to miss.
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    Legislative updates available online

    Dec 28, 2017
    Information regarding bills introduced in the 2018 legislative session related to the retirement system can be found on the NHRS website.
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    Employer Notice: Retain 2016 NHRS statutory provisions

    Oct 02, 2017
    Due to a lack of substantive changes to RSA 100-A in the 2017 legislative session, the New Hampshire Retirement System (NHRS) is not issuing revised Statutory Provision books for fiscal year 2017. Please continue to refer to the “Statutory Provisions 2016 Edition.”
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    Employer outreach

    Oct 02, 2017
    As part of NHRS’ efforts to strengthen its employer outreach, Executive Director George Lagos has begun visiting local government employers to provide an overview of the retirement system and answer any questions elected officials and/or senior staff may have.
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    Make are your key contacts are on our email list

    Oct 02, 2017
    NHRS regularly sends out news, notices, and reminders to our participating employers via email. This information is intended for any/all of these work areas: Finance, Payroll/Accounts Payable, HR/Personnel, and Administration.
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    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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    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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    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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    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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