For Immediate Release: July 9, 2015
Contact: Marty Karlon, Public Information Officer, (603) 410-3594; [email protected]
CONCORD, NH – None of the nine bills related to the New Hampshire Retirement System (NHRS, the retirement system) introduced in 2015 were adopted by the New Hampshire Legislature.
Six NHRS-related bills – four from the House of Representatives and two from the Senate – were voted inexpedient to legislate and cannot be re-introduced in the 2016 legislative session. Three bills – two in the House and one in the Senate – were retained in committee and may move forward next year. The retained bills are:
- House Bill 369: This bill, which was retained by the House Special Committee on Public Employee Pension Plans, establishes a defined contribution retirement plan for public employees hired after a future date and requires the issuance of a request for proposals for plan administration.
- House Bill 556: This bill, which was retained by the House Special Committee on Public Employee Pension Plans, establishes a cash balance pension plan for all NHRS members hired after a future date.
- Senate Bill 129: This bill, which was re-referred to the Senate Executive Departments and Administration Committee, allows a retired member to change an optional allowance (i.e. “survivorship option”) after the statutory 120-day grace period in cases where the executive director finds that circumstances require the change.
Because the Legislature and the Governor were unable to agree on the state budget, the House and Senate are currently in recess and the 2015 legislative session has not officially concluded. It is unlikely any additional changes to RSA 100-A would be introduced at this point.
While no NHRS-related bills have advanced, House Bill 2 – the budget trailer bill vetoed by the Governor – contained proposed changes to the health insurance premiums paid by retired state employees who are not Medicare-eligible and who receive health insurance coverage through the state. This change did not take effect due to the veto, however, it may still be included in a future budget agreement. Note: This benefit is administered by the state Department of Administrative Services – Division of Personnel; NHRS is required by law to deduct this premium from monthly retirement annuities.
Additional information on NHRS-related 2015 legislation is available here.
NHRS provides retirement, disability, and death benefits to its eligible members and their beneficiaries. The State of New Hampshire and more than 470 local government employers participate in NHRS for their employees, teachers, firefighters, and police officers. NHRS has approximately 48,300 active members and 31,000 pension recipients. NHRS administers a defined benefit plan qualified as a tax-exempt entity under sections 401(a) and 501(a) of the Internal Revenue Code.
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