1 Retirement System; Exceeding Part-Time Employment Limit; Penalty. Amend RSA 100-A:7, II to read as follows:

II. Any retired member who, in any calendar year, works part-time for one or more participating employers and exceeds the maximum permitted hours as provided in RSA 100-A:1, XXXIV, 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 . .

2 Effective Date. This act shall take effect January 1, 2021.

1 Retirement System; Exceeding Part-Time Employment Limit; Penalty. Amend RSA 100-A:7, II to read as follows:

II. Any retired member who, in any calendar year, works part-time for one or more participating employers and exceeds the maximum permitted hours as provided in RSA 100-A:1, XXXIV, shall have deducted from the compensation paid to the retired member by the part-time employer or employers, a penalty of 23 percent of the compensation paid commencing as soon as administratively feasible and ending at the last payment for the calendar year . Sums deducted shall be paid to the state annuity accumulation fund. The executive director shall certify to the proper employer authority or officer responsible for making the payroll of the part-time employee of the deductions herein provided .

2 Effective Date. This act shall take effect January 1, 2021.