HB 341-FN – AS INTRODUCED
2013 SESSION
10/03
HOUSE BILL 341-FN
AN ACT relative to the cost of fiscal analysis of legislation relating to the retirement system.
SPONSORS: Rep. K. Rogers, Merr 28; Sen. Soucy, Dist 18
This bill requires that the administrative and professional cost of the fiscal analysis of proposed legislation done by the retirement system not be paid from retirement system assets or charged as an expense of administration.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
13-0765
10/03
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Thirteen
AN ACT relative to the cost of fiscal analysis of legislation relating to the retirement system.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 New Paragraph; Retirement System; Administration; Cost of Assessment of Proposed Legislation. Amend RSA 100-A:14 by inserting after paragraph XIII the following new paragraph:
XIII-a. Notwithstanding the requirements of paragraph V and paragraph XIII, the cost to the retirement system of the actuarial and professional assessment of proposed legislation required by RSA 14:44 shall not be paid from assets of the retirement system or charged as expenses of administration.
2 Effective Date. This act shall take effect 60 days after its passage.
LBAO
13-0765
Revised 01/28/13
HB 341 FISCAL NOTE
AN ACT relative to the cost of fiscal analysis of legislation relating to the retirement system.
FISCAL IMPACT:
The New Hampshire Retirement System states this bill, as introduced, will have an indeterminable fiscal impact on state expenditures in FY 2013 and each year thereafter. There is no fiscal impact on county and local expenditures or state, county and local revenue.
METHODOLOGY:
The New Hampshire Retirement System states this bill directs that the actuarial and professional assessment of the fiscal analysis of proposed legislation related to the New Hampshire Retirement System required under RSA 14:44 shall not be paid from assets of the retirement system or charged as an expense of administration. The System states that it has incurred the following costs for actuarial and professional assessment of the fiscal analysis of proposed legislation:
2009 Session |
2010 Session |
2011 Session |
2012 Session |
$110,938 |
$15,000 |
$135,521 |
$175,803 |
The System is not able to determine potential future costs for actuarial and professional assessment of the fiscal analysis of proposed legislation as the System is not able to predict the number of retirement related bills that would be filed in a given session. Though the bill decreases the System’s expenditures, it does not indicate how actuarial and professional assessments of the fiscal analysis of proposed legislation related to the New Hampshire Retirement System shall be paid. The System states this bill will have an indeterminable fiscal impact on state expenditures.