For Immediate Release: July 10, 2017
Contact: Marty Karlon, Public Information Officer, (603) 410-3594; [email protected]
CONCORD, NH – Three bills related to RSA 100-A were enacted by the New Hampshire Legislature during the 2017 session and signed into law by the Governor. RSA 100-A is the statute governing the New Hampshire Retirement System (NHRS, the retirement system).
All three bills deal with administrative issues and do not impact pension benefit formulas or contributions.
- Senate Bill 140 (Chapter 151, Laws of 2017; effective August 15, 2017) establishes renewable three-year terms for members of the retirement system’s Independent Investment Committee.
- House Bill 405 (Chapter 193, Laws of 2017; NHRS portion effective June 30, 2017) requires the upcoming decennial retirement commission established in RSA 100-A:57 to review the following additional issues: the feasibility and cost of eliminating the reduction in a Group I retiree’s retirement allowance at the age of 65; the current plan for paying off the retirement system’s unfunded actuarial accrued liability; the effects of retirees returning to work; and, the effects that changes to employer contribution rates have on municipalities. (Note: The bill also includes a section unrelated to NHRS regarding the Department of Administrative Services.)
- House Bill 418 (Chapter 77, Laws of 2017; effective June 12, 2017) repeals the duties of the State Retiree Health Plan Commission to analyze and make recommendations regarding premium contributions under RSA 100-A:56, III(c) and (d). (Note: Although this commission is included in RSA 100-A, NHRS has no role in it; state retiree medical benefits are administered by the Risk Management Unit of the Department of Administrative Services, not the retirement system.)
In 2017, 18 bills related to the retirement system were introduced. Among the bills that did not advance this session were proposals to: create a cash balance benefit plan for new hires; restore a state contribution toward local employer pension costs for teachers, police officers, and firefighters; and, modify the law regarding the employment of NHRS retirees by participating employers. In addition, the Legislature did not authorize a 2017 cost-of-living adjustment (COLA) for eligible retirees or their eligible beneficiaries.
Additional information on all 2017 NHRS-related legislation is available at: https://www.nhrs.org/about-nhrs/legislative-updates
Other legislation of interest to State of NH retirees
Additional legislation dealing with State of New Hampshire retiree medical benefits was included in the budget trailer bill (House Bill 517). The state medical insurance program is not administered by NHRS, however, state law directs the retirement system to deduct insurance premiums from pension payments. The Risk Management Unit of the Department of Administrative Services will be mailing detailed information to retirees outlining these changes. Questions about insurance should be directed to: [email protected].
This legislation does not affect retirees of local communities, school districts, counties, or any political subdivision other than the State of New Hampshire.
NHRS provides retirement, disability, and death benefits to its eligible members and their beneficiaries. The State of New Hampshire and nearly 470 local government employers participate in NHRS for their employees, teachers, firefighters, and police officers. NHRS has approximately 48,000 active members and 33,000 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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