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

    Jul 11, 2018
    When a member terminates employment to retire and begin collecting a pension benefit, NHRS sends his or her employer a termination form to document recent wage information and payments made after the termination date, if any.
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    FY 2019 Employer Reporting Schedule Available on DRS

    Jul 11, 2018
    NHRS has posted the employer reporting schedules and associated payroll vouchers for fiscal year 2019, which began July 1, 2018. This information is available through the secure Data Reporting System (DRS) portal.
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    Trustees Adjust Teacher Payroll Assumption

    Jul 11, 2018
    The NHRS Board of Trustees voted unanimously on April 10, 2018, 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.
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    NHRS Employer Reporting Exception Update

    May 07, 2018
    NHRS recently conducted a review of its enrollment records that resulted in an adjustment to the employer reporting exception, “An employed member record was not found.” This adjustment may result in some employers receiving an exception notification for certain employee(s) records that had previously processed without issue.
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    FY 2019 Employer Reporting Schedule Available on DRS

    May 07, 2018
    NHRS has posted the employer reporting schedules and associated payroll vouchers for fiscal year 2019, which begins July 1, 2018. This information is available through the secure Data Reporting System (DRS) portal.
    Full story

    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: Summer 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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    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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    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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