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1 Retirement System; Part-time Employment; Grandfathering Provision. Amend 2018, 293:6 to read as follows:
293:6 Grandfathering of Existing Part-Time Positions Members; Penalty; Reporting.
I. The amendments to the provisions of RSA 100-A made by this act shall not apply to a retired member working in a part-time position for a participating employer for the position in which the retired member is employed on the effective date of this act.
II. Any retired member working under the provisions of paragraph I who exceeds 1,664 hours shall forfeit the state annuity portion of his or her retirement allowance, and any allocable cost of living adjustments, with such forfeiture commencing as soon as administratively feasible in the next calendar year and continuing for a period of 12 months.
III. In order to establish and maintain eligibility for the grandfathering exception provided in paragraph I, on or before February 15, 2019, and annually thereafter, every employer shall provide, in a format provided by the retirement system, the names and part-time position titles of any retired members continuing to be employed part-time by the employer as of the effective date of this act.
IV. If a retired member leaves the part-time employment for which the retired member is grandfathered and is employed by another participating employer, the retired member shall no longer be grandfathered and will have to comply with the provisions governing part-time employment in RSA 100-A.
2 Effective Date. This act shall take effect upon its passage.
Text to be added highlighted in green.
1 Retirement System; Part-time Employment; Grandfathering Provision. Amend 2018, 293:6 to read as follows:
293:6 Grandfathering of Existing Part-Time Members; Penalty; Reporting.
I. The amendments to the provisions of RSA 100-A made by this act shall not apply to a retired member working part-time for a participating employer on the effective date of this act.
II. Any retired member working under the provisions of paragraph I who exceeds 1,664 hours shall forfeit the state annuity portion of his or her retirement allowance, and any allocable cost of living adjustments, with such forfeiture commencing as soon as administratively feasible in the next calendar year and continuing for a period of 12 months.
III. In order to establish and maintain eligibility for the grandfathering exception provided in paragraph I, on or before February 15, 2019, and annually thereafter, every employer shall provide, in a format provided by the retirement system, the names of any retired members continuing to be employed part-time by the employer as of the effective date of this act.
IV. If a retired member leaves the part-time employment for which the retired member is grandfathered and is employed by another participating employer, the retired member shall no longer be grandfathered and will have to comply with the provisions governing part-time employment in RSA 100-A.
2 Effective Date. This act shall take effect upon its passage.