This annual notice is being provided pursuant to RSA 100-A:7-a, which requires the New Hampshire Retirement System (NHRS, the retirement system) to provide annual written notice to retirees regarding the statutory limitations on post-retirement employment with NHRS-participating employers.
Under RSA 100-A:1, XXXIV, NHRS retirees who take a part-time position with one or more retirement system participating employers on or after January 1, 2019, are allowed to work a maximum of 1,352 hours per calendar year. The law also contains a “grandfathering” provision that allows retirees who were already working part-time for NHRS participating employers prior to January 1, 2019, to work a maximum of 1,664 hours per calendar year for as long as they remain in at least one of the part-time positions they held on the effective date of the bill.
If a retiree working part-time exceeds the calendar year limit on hours worked, the state annuity portion of his or her monthly pension benefit will be withheld for 12 months; for most retirees, this would represent approximately half of the total pension benefit, although it could be more or less.
If a retiree returning to work is regularly scheduled to work full-time in an NHRS-covered position, his or her pension will cease and the retiree will be restored to NHRS active service notwithstanding the fact that the annual hours worked are or would be less than the hourly limits under RSA 100-A:1, XXXIV. The retiree may also be subject to recoupment of pension payments made and member contributions owed for any period in which the retiree was working full-time.
It is important that retirees contact NHRS to become fully aware of any potential impact on their pensions before accepting any employment with an NHRS-participating employer. For more information, visit https://www.nhrs.org/faqs or call NHRS at 1-877-600-0158, Press 2.
Note: This notice will also be mailed in January with your IRS form 1099-R.