Text to be removed highlighted in red.
1 New Section; Retirement System; Part-time Employment; Employment Fee Deducted. Amend RSA 100-A by inserting after section 16 the following new section:
100-A:16-a Part-Time Employment Fee. As a condition of part-time employment, a retired member employed by an employer in a part-time position who is not restored to service because of such employment, shall have deducted from his or her salary or wages paid by the employer a fee to be calculated as an equivalent percentage to the deductions under RSA 100-A:16, I(a) for group I, group II firemen members, and group II police members, respectively. The employer shall determine the classification of the part-time position for purposes of determining the appropriate fee, subject to the approval of the board of trustees. The employer shall cause such amounts to be deducted from the compensation of each such retired member, and when deducted, shall be paid to the retirement system at such times as may be designated by the board of trustees and credited to the state annuity accumulation fund for the benefit of the retirement system. The fees collected are not contributions of a member shall not accrue to the benefit of the retired member paying the fees.
2 Retirement System; Part-time Employment. Amend RSA 100-A:7-a to read as follows:
100-A:7-a Certain Part-Time Employment; Notice Required. The retirement system shall annually provide written notice to all retired members of the retirement system of the hourly limitations on part-time employment as defined in RSA 100-A:1, XXXIV and, the potential effect that exceeding such hourly limitations could have on the retired member's retirement benefits, including restoration to service as required in RSA 100-A:7, and the required fee to be deducted from part-time salary or wages under RSA 100-A:16-a.
3 Effective Date. This act shall take effect July 1, 2017.
Text to be added highlighted in green.
1 New Section; Retirement System; Part-time Employment; Employment Fee Deducted. Amend RSA 100-A by inserting after section 16 the following new section:
100-A:16-a Part-Time Employment Fee. As a condition of part-time employment, a retired member employed by an employer in a part-time position who is not restored to service because of such employment, shall have deducted from his or her salary or wages paid by the employer a fee to be calculated as an equivalent percentage to the deductions under RSA 100-A:16, I(a) for group I, group II firemen members, and group II police members, respectively. The employer shall determine the classification of the part-time position for purposes of determining the appropriate fee, subject to the approval of the board of trustees. The employer shall cause such amounts to be deducted from the compensation of each such retired member, and when deducted, shall be paid to the retirement system at such times as may be designated by the board of trustees and credited to the state annuity accumulation fund for the benefit of the retirement system. The fees collected are not contributions of a member shall not accrue to the benefit of the retired member paying the fees.
2 Retirement System; Part-time Employment. Amend RSA 100-A:7-a to read as follows:
100-A:7-a Certain Part-Time Employment; Notice Required. The retirement system shall annually provide written notice to all retired members of the retirement system of the hourly limitations on part-time employment as defined in RSA 100-A:1, XXXIV , the potential effect that exceeding such hourly limitations could have on the retired member's retirement benefits, including restoration to service as required in RSA 100-A:7, and the required fee to be deducted from part-time salary or wages under RSA 100-A:16-a.
3 Effective Date. This act shall take effect July 1, 2017.