Revision: Dec. 13, 2017, 3:24 p.m.
HB 1805 - AS INTRODUCED
2018 SESSION
18-3032
05/01
HOUSE BILL 1805
SPONSORS: Rep. Ohm, Hills. 36; Rep. McGuire, Merr. 29; Sen. Carson, Dist 14; Sen. Watters, Dist 4
COMMITTEE: Executive Departments and Administration
-----------------------------------------------------------------
ANALYSIS
This bill establishes a committee to study level dollar amortization of retirement system unfunded accrued liability. The bill is a request of the decennial retirement commission, established in RSA 100-A:57.
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
18-3032
05/01
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Eighteen
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Committee Established. There is established a committee to study level dollar amortization of retirement system unfunded accrued liability.
2 Membership and Compensation.
I. The members of the committee shall be as follows:
(a) Three members of the house of representatives, appointed by the speaker of the house of representatives, at least one of whom shall be a member of the decennial retirement commission, established in RSA 100-A:57.
(b) Two members of the senate, appointed by the president of the senate, at least one of whom shall be a member of the decennial retirement commission, established in RSA 100-A:57.
II. Members of the committee shall receive mileage at the legislative rate when attending to the duties of the committee.
3 Duties. The committee shall study the advantages and disadvantages of changing employer funding from a level percent amortization, currently 12.54 percent of payroll, to a level dollar amortization, estimated at $460,000,000 annually.
4 Chairperson; Quorum. The members of the study committee shall elect a chairperson from among the members. The first meeting of the committee shall be called by the first-named house member. The first meeting of the committee shall be held within 45 days of the effective date of this section. Three members of the committee shall constitute a quorum.
5 Report. The committee shall report its findings and any recommendations for proposed legislation to the speaker of the house of representatives, the president of the senate, the house clerk, the senate clerk, the governor, and the state library on or before November 1, 2018.
6 Effective Date. This act shall take effect upon its passage.