For Immediate Release: April 12, 2021
Contact: Marty Karlon, Director of Communications & Legislative Affairs, (603) 410-3594; firstname.lastname@example.org
CONCORD, NH – Two bills related to the New Hampshire Retirement System (NHRS, the retirement system) have been passed by the N.H. House of Representatives in the current legislative session and have crossed over to the N.H. Senate for further action. In addition, one bill has been passed by both the House and Senate and will be sent to the Governor.
None of the 2021 bills that remain under consideration will impact member benefits or retiree pension amounts.
House crossover day, which was April 9 this year, was the deadline for all House bills to go to the Senate. Senate crossover day was April 1 and no Senate bills related to NHRS were passed this year. Not all bills that cross over will be enacted into law. To become law, legislation must be agreed to by majorities in both the House and Senate, after which it is sent to the Governor, who may veto the bill, sign it into law, or let it become law without a signature.
The NHRS-related bills passed by the House are:
- House Bill 130: This bill clarifies how the state retiree insurance premium determined by the Department of Administrative Services is applied by NHRS for retirees and beneficiaries who are eligible for the medical subsidy. This legislation does not affect local communities, school districts, counties, or any political subdivision other than the State of New Hampshire.
- House Bill 141: This bill, as amended, allows counties to exempt newly hired chief administrative officers from NHRS participation. Cities and towns have had this option since the 1970s. The bill also requires all municipal and county employers who exempt their chief administrative officers to pay NHRS the unfunded liability portion of the employer contribution rate on the salary of the chief administrative officer. Note: This change is prospective and existing membership exemptions for chief administrative officers of municipalities would not be affected.
The bill adopted by the House and Senate is:
- House Bill 173: This bill requires the quarterly report of the retirement system’s Independent Investment Committee (IIC) to include a description of investment fees. The bill also requires IIC reports to be available on the retirement system’s website. This information is currently reported on an annual basis.
An additional eight bills related to NHRS have been killed, tabled, or retained in committee by the House or Senate and no further action is expected on these bills in the 2021 legislative session. Additional information on all 2021 NHRS-related legislation is compiled on the NHRS Legislative Updates page. From this page, users can click on the bill number to go directly to the “bill docket” pages on the New Hampshire General Court website for additional details, including the current status of a bill, upcoming hearings (if any), and links to the full text.
NHRS provides retirement, disability, and death benefits to its eligible members and their beneficiaries. The State of New Hampshire and more than 460 local government employers participate in NHRS for their employees, teachers, firefighters, and police officers. NHRS has more than 48,000 active members and 39,000 benefit 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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