Here is some general information addressing the most common questions NHRS gets from new retirees:
- NHRS pays benefits on last business day of each month. So, for example, if you retired on July 1, your first deposit will not be until July 29. A list of pay dates can be located on the Retiree homepage of our website.
- You will receive a preliminary pension will be for about 4-6 months. Once we receive all your final compensation information from your employer and your benefit is finalized, you will receive a notice from NHRS. The final benefit amount is retroactive to your date of retirement and any overpayment or underpayment will be addressed in a separate letter.
- You have 120 days from the date your final notice of retirement is issued to make any option changes (those who have selected a Maximum option of Option 1 may change their beneficiary designation at any time). A written request will be needed for the option change along with a new Mandatory Acknowledgement form.
- Insurance and leave payout questions will need to be addressed by your former employer.
- NHRS encourages all retirees to register for a My Account on our website. This will allow retirees to be able to access monthly statements, annual 1099-R information, and make changes to direct deposit or demographic updates.
- IRS 1099-R forms are mailed annually by the end of January. These are typically available sooner through the My Account.
- You may change banking information and tax changes at any time by completing a new Electronic Direct Deposit (EDD) form or Form W-4P .