Christine Clinton of Dublin was recently appointed to the NHRS Independent Investment Committee (IIC) as a public member.
Timothy Lesko of Hopkinton was recently appointed to the NHRS Board of Trustees as a public member.
A statutory commission charged with reviewing and making recommendations to ensure the long-term viability of the New Hampshire Retirement System issued its final report in January.
Larry Johansen, NHRS Director of Investments, was recently recognized as one of the top 30 pension chief investment officers in the country by Trusted Insight, an investment trade publication.
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 NHRS. All three bills deal with administrative issues and do not impact contributions or pension benefit formulas.
In an effort to inform stakeholders and other interested parties, the New Hampshire 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, “The bottom line on alternatives,” is now available.
NHRS makes available to participating employers an XML Schema Verification Application that allows employers who submit monthly wage and contribution data for active members via an XML file to test whether their file is valid before uploading it. The integrity of the data NHRS receives from its employers is crucial to our ability to effectively administer retirement benefits. The XML file verification process is only the first stage of a multi-level review of employer-submitted files. Beginning April 28, 2017, the processing of XML files will be automated and employer-submitted XML files that do not match the schema will be rejected by the Data Reporting System (DRS). Previously, NHRS staff validated the files manually before moving them into the DRS, and would notify an employer if their file had issues.
The New Hampshire Supreme Court released a unanimous decision yesterday that upheld several changes to NHRS benefit provisions enacted by the Legislature in 2011.
NHRS is aware of an increase in situations where participating employers are using shared or loaned employees. These arrangements may be structured in several ways and NHRS is still evaluating what, if any, impact this may have with respect to NHRS administration on such matters as enrollment, participation, creditable service, and “earnable compensation.” In the meantime, we strongly encourage participating employers to call NHRS for guidance when contemplating the implementation of such arrangements as any impact regarding NHRS administration is “fact specific” on a case-by-case basis.
As NHRS engages in employer audits, we continuously identify situations where payroll reported to the retirement system includes compensation elements which are not considered “earnable compensation” under 100-A:1, XVII. This can have significant repercussions to you as an employer, your employees, and your retirees.
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, “Fiduciary: A word worth knowing,” deals with fiduciary responsibility.
NHRS has added a new page to its website listing approximately 325 terminated members who left service prior to 2008 and whom NHRS has been unable to locate to return their accumulated contributions.
NHRS recently deployed ZixCorp email encryption software to increase protection of personal information for members, beneficiaries, and employers.
NHRS has developed online validation tools to enable employers to determine the vested status of members as of December 31, 2011.
The New Hampshire Supreme Court released a unanimous decision earlier today upholding amendments to RSA 100-A – the law governing the New Hampshire Retirement System – enacted in 2007 and 2008 regarding cost-of-living adjustments (COLAs) and the definition of “earnable compensation.” As a result of the decision, the legislative changes remain in effect.
The New Hampshire Supreme Court released a unanimous decision earlier today finding that New Hampshire Retirement System members do not have a contractual right to a fixed contribution rate. The decision reversed a lower court ruling that the July 1, 2011, increase to member contribution rates enacted in House Bill 2 (Chapter 224, Laws of 2011) violated the contract clause of the state and federal constitutions for “vested” members with 10 or more years of creditable service in the retirement system on or before the effective date of the contribution increase.
The New Hampshire Supreme Court recently ruled that legally separated partners are still considered spouses with regard to eligibility for New Hampshire Retirement System spousal benefits including the Medical Subsidy and the Group II (Police and Fire) Automatic Spousal Allowance.
A decision issued today (September 30, 2014) by the New Hampshire Supreme Court does not change the statutory definition of part-time employment for New Hampshire Retirement System retirees working for NHRS participating employers.
The New Hampshire Retirement System recently received a question from a participating employer regarding whether members can pay both the member contributions due under RSA 100-A:16, I, and the employer contributions due under RSA 100-A:16, II and III. The retirement system is issuing this notice to participating employers to reiterate that members are not permitted to make employer contributions under RSA 100-A:16.