Vested Deferred Retirement
Group I (Employee and Teacher) Members hired on or after July 1, 2011
Eligibility for Vested Deferred Retirement
Even if a member’s active NHRS membership ends prior to eligibility for Service Retirement, the member may be entitled to a Vested Deferred Retirement pension from NHRS in the future under the following conditions:
- The member has a minimum of 10 years of Creditable Service when the member terminates active membership; AND
- The member does not withdraw his/her accumulated contributions from NHRS. (A member’s accumulated contributions are equal to the sum of all mandatory NHRS contributions deducted from a member’s compensation, any additional contributions and any contributions made by a member for purchases of service credit, plus credited interest.)
Vested members who occupied an employee or teacher position and meet the conditions listed above will be eligible to receive a Vested Deferred Retirement pension at 65. Members with least 30 years of Creditable Service may receive a reduced allowance at or after age 60.
The benefit will be computed using the appropriate Group I Service Retirement pension formula when a member’s Vested Deferred Retirement pension begins at age 65 or older. The benefit will be computed using the Service Retirement pension formula and appropriate reduction factors when a member who has at least 30 years of service begins collecting a Vested Deferred Retirement pension prior to age 65. The allowance will be reduced by 1/4 of one percent for each month prior to age 65 the member receives an allowance.
Split Benefits – Service in Both Group I and Group II
Different provisions may apply to members with Split Benefits. Contact NHRS to speak with a Benefits Specialist.
Filing for Vested Deferred Retirement
Vested Deferred Retirement pensions do not begin automatically. In order to receive a Vested Deferred Retirement pension, members must file for benefits.
Death of Members Who Are Not in Active Service
If a vested member’s death occurs after active NHRS membership ends and before the member receives a pension, a refund of the member’s accumulated contributions will be payable to the member’s designated beneficiary(ies) or estate.