The unfolding coronavirus (COVID-19) pandemic has caused unprecedented disruptions on a worldwide scale. I am writing to update stakeholders on how NHRS is addressing the challenges it faces.
Under state law, any hours worked by NHRS retirees for participating employers during a governor-declared state of emergency do not count toward the annual limits on retiree work hours. Gov. Sununu declared a state of emergency in New Hampshire effective at 5:15 p.m. on Friday, March 13, 2020. A state of emergency declaration automatically expires in 21 days unless renewed.
In response to the coronavirus (COVID-19) outbreak, the retirement system has closed its office to visitors until further notice. Normal business operations are continuing and benefits will continue to be paid on schedule.
While the economic fallout from the coronavirus (COVID-19) pandemic is concerning, it does not impact the ability of the New Hampshire Retirement System (NHRS) to meet its benefit obligations to our retirees and beneficiaries. In other words, your pension is safe and secure.
Reporting 2019 calendar year data on NHRS retirees, and reviewing “grandfathered” retirees, is due by February 18, 2020.
NHRS has released reports for Fiscal Year 2019 related to Governmental Accounting Standards Board (GASB) Statements No. 68 and No. 75.
NHRS is issuing this notice to inform participating employers about 2020 legislation that may have a cost impact on political subdivision employers.
The NHRS Board of Trustees voted unanimously in December to initiate an actuarial experience study for the fiscal years 2016-19 period.
Financial report, summary financial report, and investment report available online.
Recorded instructions for reporting calendar year data on NHRS retirees (HB 561) are now available for participating employers.
The New Hampshire Retirement System member interest rate for calendar year 2020 will be 3.7 percent.
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.
NHRS has partnered with Citizens Bank to create “NHRS QuickPay,” an online bill pay service to facilitate the submission of employer contributions via ACH at no cost to participating employers.
NHRS realized a 5.7% return on investments in the fiscal year ended June 30, 2019. At the close of the fiscal year, the retirement system’s unaudited net position held in trust was $9.208 billion.
NHRS has added a section to our website – “The Bigger Picture” – that lists resources on retirement planning and overall financial literacy from governmental, non-profit, media, and public service entities. While the emphasis is on preparing for retirement, many of these links are relevant regardless of age.
Employer notice: The fixed-length file schema for reporting data on NHRS retirees pursuant to House Bill 561 is available for download.
NHRS has again been recognized by the Government Finance Officers Association of the United States and Canada for its annual financial reports.
The Fiscal Year 2019 Member Annual Statements for all NHRS members who are not yet retired have been posted to My Account, the retirement system’s secure online portal.
Six bills related to RSA 100-A were enacted by the New Hampshire Legislature during the 2019 session and signed into law by the Governor.