Revision: Jan. 30, 2009, midnight
SB 145-FN – AS INTRODUCED
2009 SESSION
10/09
SENATE BILL 145-FN
AN ACT relative to service on the retirement system board of trustees for certain board members.
SPONSORS: Sen. DeVries, Dist 18; Rep. Goley, Hills 8; Rep. R. Holden, Hills 7; Rep. DeJoie, Merr 11; Rep. P. McMahon, Merr 3
COMMITTEE: Executive Departments and Administration
This bill requires that members of the retirement system board of trustees who are nominated from employee member organizations be permitted by their employers to attend meetings of the board and that costs related to such attendance be paid by the retirement system.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
09-0973
10/09
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Nine
AN ACT relative to service on the retirement system board of trustees for certain board members.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 New Paragraph; Retirement System; Administration of the Board; Expenses. Amend RSA 100-A:14 by inserting after paragraph III the following new paragraph:
III-a. For board of trustee members nominated by the New Hampshire state employees’ association, the New Hampshire education association, the New Hampshire police association, or the New Hampshire state permanent firemen’s association, any cost incurred by the trustee’s employer or directly by the trustee relating to the trustee’s service on the board and attendance at board meetings shall be reimbursed by the retirement system, upon approval of the board, to the employer or trustee, as appropriate. No such trustee shall be denied leave or time from his or her employer in order to attend the regular meetings of the board of trustees or to conduct retirement system business relating to his or her duties as a trustee.
2 Effective Date. This act shall take effect 60 days after its passage.
LBAO
09-0973
01/29/09
SB 145-FN - FISCAL NOTE
AN ACT relative to service on the retirement system board of trustees for certain board members.
FISCAL IMPACT:
The New Hampshire Retirement System states this bill may increase state, county and local expenditures by an indeterminable amount in FY 2012 and each year thereafter. There will be no fiscal impact on state, county, or local revenue.
METHODOLOGY:
The New Hampshire Retirement System states this bill would require, for each trustee, the System to reimburse any costs relating to service on the board or attendance at board meetings incurred either by the trustee’s employer or by the trustee directly. The System’s actuary factored this proposed change in performing a supplemental valuation on June 30, 2008 data and found that it would not have an effect on benefit obligations. However, the System states employer contributions would increase for all participating employers by the exact amount of additional expenses paid by the System as a result of this proposed legislation. Such an increase would not effect employer contributions in FY 2010 and FY 2011 due to fact that rates have already been set, but would be factored in to rate calculations for FY 2012 and FY 2013. The actuary estimates that for each $250,000 of additional expenses, contribution rates would rise 0.01% across all member groups, but the System cannot estimate an amount of reimbursable expenditures, so no fiscal impact can be determined.