HB 580-FN – AS INTRODUCED
2007 SESSION
10/09
HOUSE BILL 580-FN
AN ACT relative to certain accidental disability retirement allowances payable to surviving spouses of retired members.
SPONSORS: Rep. Knox, Carr 4; Rep. Stevens, Carr 4; Rep. Buxton, Rock 10; Sen. Kenney, Dist 3
COMMITTEE: Executive Departments and Administration
This bill increases the accidental disability retirement allowance payable to certain surviving spouses of retired members after the member’s death.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
07-0453
10/09
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Seven
AN ACT relative to certain accidental disability retirement allowances payable to surviving spouses of retired members.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Retirement System; Certain Accidental Disability Retirement Beneficiaries. Amend RSA 100-A:12, I to read as follows:
I. Upon the death of a retired group II member who retired before April 1, 1987, after the member’s retirement allowance payments have commenced, there shall be paid to the person nominated by the member by written designation filed with the board, if living, otherwise to the retired member’s estate, in addition to the amount payable under RSA 100-A:11 a lump sum of $3,600; provided, however, that if said retired member was, prior to the member’s death, in receipt of an accidental disability retirement allowance there shall be paid to the person’s spouse, if surviving, in lieu of such lump sum payment, an allowance to continue until the spouse’s death or remarriage equal to [50 percent of] the accidental disability retirement allowance payable to the retired member prior to the member’s death.
2 Effective Date. This act shall take effect 60 days after its passage.
LBAO
07-0453
Revised 02/07/07
HB 580 FISCAL NOTE
AN ACT relative to certain accidental disability retirement allowances payable to surviving spouses or retired members.
FISCAL IMPACT:
The New Hampshire Retirement System states this bill may increase state, county, and local expenditures by an indeterminable amount in FY 2008 and each year thereafter. This bill will have no fiscal impact on state, county, and local revenue.
METHODOLOGY:
The New Hampshire Retirement System states this bill will increase the pension for surviving spouses of Group II members who retired with accidental disability benefits prior to April 1, 1987 from 50 percent to 100 percent of the member’s benefits, in addition to the automatic survivor pension. The System’s actuary states this proposal will increase the System’s liabilities by approximately $348,000 for police members and $584,000 for fire members.
The System’s actuary states the proposed change with the automatic survivor benefit may allow for benefits payable after the death of disabled member to be larger than benefits payable before the death of the member. The Actuary recommends the proposed changes be reviewed for compliance with federal code and regulations in general and with IRC section 401(a)(9).