Revision: Feb. 18, 2009, midnight
HB 223-FN-LOCAL – AS INTRODUCED
2009 SESSION
10/09
HOUSE BILL 223-FN-LOCAL
AN ACT establishing a moratorium on the implementation of the retirement system employer assessments for excess benefits.
SPONSORS: Rep. P. McMahon, Merr 3; Sen. Fuller Clark, Dist 24
COMMITTEE: Executive Departments and Administration
This bill establishes a moratorium until December 1, 2009 on the assessment of the retirement system employer assessments for excess benefits under RSA 100-A:16, III-a.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
09-0376
10/09
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Nine
AN ACT establishing a moratorium on the implementation of the retirement system employer assessments for excess benefits.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Retirement System; Employer Assessment; Excess Benefits; Moratorium. There is hereby established a moratorium on the implementation of the employer assessment for excess benefits under RSA 100-A:16, III-a. The retirement system shall not assess an employer in the retirement system any charge determined under RSA 100-A:16, III-a, and shall not collect any such assessment previously determined or certified, until December 1, 2009.
2 Effective Date. This act shall take effect upon its passage.
LBAO
09-0376
01/06/09
HB 223-FN-LOCAL - FISCAL NOTE
AN ACT establishing a moratorium on the implementation of the retirement system employer assessments for excess benefits.
FISCAL IMPACT:
The New Hampshire Retirement System states this bill may decrease state, county, and local expenditures by an indeterminable amount in FY 2009 and FY 2010. There is no fiscal impact on state, county, and local revenue.
METHODOLOGY:
The New Hampshire Retirement System states this bill establishes a moratorium on the implementation of the employer assessments for excess benefits under RSA 100-A:16, III-a until December 1, 2009. RSA 100-A:16, III-a creates a surcharge to employers when their employees retire and the employee’s 3 year average base pay is greater than 125 percent of the employee’s actual average final compensation. To the extent an employer would be impacted by this law, the employer would have a decrease in expenditures between the passage of this bill and December 1, 2009.