Amendment 2023-0483h to HB436 (2024)

(NEW TITLE) making an appropriation to the New Hampshire retirement system to pay down the unfunded accrued liability.


Revision: Feb. 16, 2023, 9:28 a.m.

Rep. Pratt, Rock. 4

Rep. Simon, Graf. 1

Rep. Trottier, Belk. 8

Rep. Bordes, Belk. 5

Rep. C. McGuire, Merr. 27

February 10, 2023

2023-0483h

10/08

 

 

Amendment to HB 436-FN-LOCAL

 

Amend the bill by replacing all after the enacting clause with the following:

 

1  New Paragraph; Definition; Vested.  Amend RSA 100-A:1 by inserting after paragraph XXXVII the following new paragraph:

XXXVIII.  “Vested” means that a member is qualified for a benefit upon 10 years of service.  The calculations of earnable compensation under RSA 100-A:1, XVII and average final compensation under RSA 100-A:1, XVIII cannot be reduced after 3 years of service.

2  Definition of Earnable Compensation; Group II.  Amend RSA 100-A:1, XVII to read as follows:

XVII.  "Earnable compensation" shall mean:

(a)  For group I members who have attained vested status prior to January 1, 2012 the full base rate of compensation paid, as determined by the employer, plus any overtime pay, holiday and vacation pay, sick pay, longevity or severance pay, cost of living bonus, annual attendance stipend or bonus, additional pay for extracurricular and instructional activities for full-time teachers and full-time employees who are employed in paraprofessional or support position, additional pay for instructional activities of full-time faculty of the community college system, and any military differential pay, plus the fair market value of non-cash compensation paid to, or on behalf of, the member for meals or living quarters if subject to federal income tax, but excluding other compensation except cash incentives paid by an employer to encourage members to retire, supplemental pay paid by the employer while the member is receiving workers' compensation, and teacher development pay that is not part of the contracted annual salary.  [Compensation for extra and special duty, as reported by the employer, shall be included but limited during the highest 3 years of creditable service as provided in paragraph XVIII].  However, earnable compensation in the final 12 months of creditable service prior to termination of employment shall be limited to 1-1/2 times the higher of the earnable compensation in the 12-month period preceding the final 12 months or the highest compensation year as determined for the purpose of calculating average final compensation, but excluding the final 12 months.  Any compensation received in the final 12 months of employment in excess of such limit shall not be subject to member or employer contributions to the retirement system and shall not be considered in the computation of average final compensation.  Provided that, the annual compensation limit for members of governmental defined benefit pension plans under section 401(a)(17) of the United States Internal Revenue Code of 1986, as amended, shall apply to earnable compensation for all employees[,] and teachers[, permanent firemen, and permanent policemen] who first become eligible for membership in the system on or after July 1, 1996.  Earnable compensation shall not include compensation in any form paid later than 120 days after the member's termination of employment from a retirement eligible position, with the limited exceptions of disability related severance pay paid to a member or retiree no later than 120 days after a decision by the board of trustees granting the member or retiree disability retirement benefits pursuant to RSA 100-A:6 and of severance pay which a member was entitled to be paid within 120 days after termination but which, without the consent of the member and not through any fault of the member, was paid more than 120 days after the member's termination.  The member shall have the burden of proving to the board of trustees that any severance payment paid later than 120 days after the member's termination of employment is earnable compensation and meets the requirements of an asserted exception to the 120-day post-termination payment requirement.

(b)(1)  For group I members who have not attained vested status prior to January 1, 2012, the full base rate of compensation paid, as determined by the employer, plus compensation over base pay.  Compensation over base pay shall include as applicable, subject to subparagraphs (2)[, (3), and (4)] and (3), any overtime pay, cost of living bonus, annual attendance stipend or bonus, annual longevity pay, additional pay for extracurricular and instructional activities for full-time teachers and full-time employees who are employed in paraprofessional or support position, additional pay for instructional activities of full-time faculty of the community college system[, compensation for extra and special duty,] and any military differential pay, plus the fair market value of non-cash compensation paid to, or on behalf of, the member for meals or living quarters if subject to federal income tax, but excluding other compensation except supplemental pay paid by the employer while the member is receiving workers' compensation and teacher development pay that is not part of the contracted annual salary.

(2)  [Compensation over base pay shall be limited during the highest 5 years of creditable service as provided in paragraph XVIII.

(3)]  Earnable compensation shall not include compensation for extra and special duty for members who commence service on and after July 1, 2011.

[(4)] (3)  Earnable compensation shall not include incentives to encourage members to retire, severance pay or end-of-career additional longevity payments, and pay for unused sick or vacation time.  Earnable compensation in the final 12 months of creditable service prior to termination of employment shall be limited to 1 1/2 times the higher of the earnable compensation in the 12-month period preceding the final 12 months or the highest compensation year as determined for the purpose of calculating average final compensation, but excluding the final 12 months.  Any compensation received in the final 12 months of employment in excess of such limit shall not be subject to member or employer contributions to the retirement system and shall not be considered in the computation of average final compensation.  Provided that, the annual compensation limit for members of governmental defined benefit pension plans under section 401(a)(17) of the United States Internal Revenue Code of 1986, as amended, shall apply to earnable compensation for all employees[,] and teachers[, permanent firemen, and permanent policemen] who first become eligible for membership in the system on or after July 1, 1996.  Earnable compensation shall not include compensation in any form paid later than 120 days after the member's termination of employment from a retirement eligible position.

(c)  For group II members who have attained vested status prior to January 1, 2013, the full base rate of compensation paid, as determined by the employer, plus any overtime pay, holiday and vacation pay, sick pay, longevity or severance pay, cost of living bonus, annual attendance stipend or bonus, additional pay for instructional activities, and any military differential pay, plus the fair market value of non-cash compensation paid to, or on behalf of, the member for meals or living quarters if subject to federal income tax, but excluding other compensation except cash incentives paid by an employer to encourage members to retire, supplemental pay paid by the employer while the member is receiving workers' compensation.  Compensation for extra and special duty, as reported by the employer, shall be included but limited during the highest 3 years of creditable service as provided in paragraph XVIII.  However, earnable compensation in the final 12 months of creditable service prior to termination of employment shall be limited to 1-1/2 times the higher of the earnable compensation in the 12-month period preceding the final 12 months or the highest compensation year as determined for the purpose of calculating average final compensation, but excluding the final 12 months.  Any compensation received in the final 12 months of employment in excess of such limit shall not be subject to member or employer contributions to the retirement system and shall not be considered in the computation of average final compensation.  Provided that, the annual compensation limit for members of governmental defined benefit pension plans under section 401(a)(17) of the United States Internal Revenue Code of 1986, as amended, shall apply to earnable compensation for all permanent firemen and permanent policemen who first become eligible for membership in the system on or after July 1, 1996.  Earnable compensation shall not include compensation in any form paid later than 120 days after the member's termination of employment from a retirement eligible position, with the limited exceptions of disability related severance pay paid to a member or retiree no later than 120 days after a decision by the board of trustees granting the member or retiree disability retirement benefits pursuant to RSA 100-A:6 and of severance pay which a member was entitled to be paid within 120 days after termination but which, without the consent of the member and not through any fault of the member, was paid more than 120 days after the member's termination.  The member shall have the burden of proving to the board of trustees that any severance payment paid later than 120 days after the member's termination of employment is earnable compensation and meets the requirements of an asserted exception to the 120-day post-termination payment requirement.

(d)(1)  For group II members who have not attained vested status prior to January 1, 2013, the full base rate of compensation paid, as determined by the employer, plus compensation over base pay.  Compensation over base pay shall include as applicable, subject to subparagraphs (2), and (3), any overtime pay, cost of living bonus, annual attendance stipend or bonus, annual longevity pay, compensation for extra and special duty, and any military differential pay, plus the fair market value of non-cash compensation paid to, or on behalf of, the member for meals or living quarters if subject to federal income tax, but excluding other compensation except supplemental pay paid by the employer while the member is receiving workers' compensation that is not part of the contracted annual salary.

(2)  Earnable compensation shall not include compensation for extra and special duty for members who commence service on and after July 1, 2011.

(3)  Earnable compensation shall not include incentives to encourage members to retire, severance pay or end-of-career additional longevity payments, and pay for unused sick or vacation time.  Earnable compensation in the final 12 months of creditable service prior to termination of employment shall be limited to 1 1/2 times the higher of the earnable compensation in the 12-month period preceding the final 12 months or the highest compensation year as determined for the purpose of calculating average final compensation, but excluding the final 12 months.  Any compensation received in the final 12 months of employment in excess of such limit shall not be subject to member or employer contributions to the retirement system and shall not be considered in the computation of average final compensation.  Provided that, the annual compensation limit for members of governmental defined benefit pension plans under section 401(a)(17) of the United States Internal Revenue Code of 1986, as amended, shall apply to earnable compensation for all permanent firemen and permanent policemen who first become eligible for membership in the system on or after July 1, 1996.  Earnable compensation shall not include compensation in any form paid later than 120 days after the member's termination of employment from a retirement eligible position.

3  Definition of Average Final Compensation; Group II.  Amend RSA 100-A:1, XVIII to read as follows:

XVIII.  "Average final compensation" shall mean:

(a)  For group I members who have attained vested status prior to January 1, 2012, the average annual earnable compensation of a member during his or her highest 3 years of creditable service, or during all of the years in his or her creditable service if less than 3 years.  [For purposes of this calculation, the inclusion of the average annual compensation for extra and special duty in the 3 years shall not exceed the average annual amount of compensation for extra and special duty paid to the member over the member's last 7 years of creditable service on or after July 1, 2009, as reported by the employer in accordance with RSA 100-A:16, VI, or over all of the years in his or her creditable service on or after July 1, 2009 if less than 7 years.]

(b)  For group II members who have attained vested status prior to January 1, 2013, the average annual earnable compensation of a member during his or her highest 3 years of creditable service, or during all of the years in his or her creditable service if less than 3 years.  For purposes of this calculation, the inclusion of the average annual compensation for extra and special duty in the 3 years shall not exceed the average annual amount of compensation for extra and special duty paid to the member over the member's last 7 years of creditable service on or after July 1, 2009, as reported by the employer in accordance with RSA 100-A:16, VI, or over all of the years in his or her creditable service on or after July 1, 2009 if less than 7 years.

[(b)] (c)  For group I members who commenced service on or after July 1, 2011 or who have not attained vested status prior to January 1, 2012, the average annual earnable compensation of a member during his or her highest 5 years of creditable service, or during all of the years in his or her creditable service if less than 5 years.  For purposes of inclusion in this calculation, the average percentage of compensation paid in excess of the full base rate of compensation in the highest 5 years shall not exceed the average percentage of compensation paid in excess of the full base rate of compensation over all the member's years of service on or after January 1, 2012, but excluding the highest 5 years.

[(c)(1)] (d)(1)  For group II members who commenced service prior to July 1, 2011 and who have not attained vested status prior to January 1, [2012] 2013, the average annual earnable compensation of a member during his or her highest 5 years of creditable service, or during all of the years in his or her creditable service if less than 5 years.  For purposes of inclusion in this calculation, the average percentage of compensation paid in excess of the full base rate of compensation in the highest 5 years shall not exceed the average percentage of compensation paid in excess of the full base rate of compensation over all the member's years of service on or after January 1, 2013.

(2)  For group II members who commenced service on or after July 1, 2011 [and who have not attained vested status prior to January 1, 2012], the average annual earnable compensation of a member during his or her highest 5 years of creditable service, or during all of the years in his or her creditable service if less than 5 years.  For purposes of inclusion in this calculation, the average percentage of compensation paid in excess of the full base rate of compensation in the highest 5 years shall not exceed the average percentage of compensation paid in excess of the full base rate of compensation over all the member's years of service on or after January 1, 2012, but excluding the highest 5 years.

4  Group II Service Retirement Benefits.  Amend RSA 100-A:5, II to read as follows:

II.  Group II Members.

(a)  Any group II member in service, who is in vested status before January 1, [2012] 2013, who has attained age 45 and completed 20 years of creditable service, and any group II member who commenced service on or after July 1, 2011 who has attained age 50 and completed 25 years of creditable service, and group II members who have not attained vested status prior to January 1, [2012] 2013 as provided in the transition provisions in RSA 100-A:5, II(d), or any group II member in service who has attained age 60 regardless of the number of years of creditable service, may retire on a service retirement allowance upon written application to the board of trustees setting forth at what time not less than 30 days nor more than 90 days subsequent to the filing thereof the member desires to be retired, notwithstanding that during such period of notification the member may have separated from service.  Provided, however, that a group II member who commenced service on or after July 1, 2011 shall not receive a service retirement allowance until attaining the age of 52.5; but may receive a reduced allowance after age 50 if the member has at least 25 years of creditable service where the allowance shall be reduced, for each month by which the date on which benefits commence precedes the month after which the member attains 52.5 years of age, by 1/4 of one percent.

(b)  Upon service retirement, a group II member shall receive a service retirement allowance which shall consist of:

(1)  A member annuity which shall be the actuarial equivalent of his or her accumulated contributions at the time of retirement; and

(2)  For members who are in vested status before January 1, [2012] 2013, a state annuity which, together with his or her member annuity, shall be equal to 2- 1/2 percent of his or her average final compensation multiplied by the number of years of his or her creditable service not in excess of 40 years, or for members who commenced service on or after July 1, 2011, a state annuity which, together with his or her member annuity, shall be equal to 2 percent of his or her average final compensation multiplied by the number of years of his or her creditable service not in excess of 42.5 years, and group II members who have not attained vested status prior to January 1, [2012] 2013 shall be as provided in the transition provisions in RSA 100-A:5, II(d) with the maximum number of years of creditable service not in excess of 40.5 years.

(3)  Provided, however, that a group II member who commenced service on or after July 1, 2011 shall not receive a service retirement allowance until attaining the age of 52.5; but may receive a reduced allowance after age 50 if the member has at least 25 years of creditable service where the allowance shall be reduced, for each month by which the date on which benefits commence precedes the month after which the member attains 52.5 years of age, by 1/4 of one percent.

(c)(1)  Notwithstanding any provision of RSA 100-A to the contrary, any group II member who is in vested status before January 1, [2012] 2013 and has retired on or after the effective date of this subparagraph after attaining the age of 45 with at least 20 years of creditable service, and any group II member who commenced service on or after July 1, 2011 and retires after the effective date of this subparagraph after attaining the age of 50 with at least 25 years of creditable service, and group II members who have not attained vested status prior to January 1, [2012] 2013 who qualify as provided in the transition provisions in RSA 100-A:5, II(d), shall receive a minimum annual service retirement allowance of $10,000.  If such group II member has elected to convert the retirement allowance into an optional allowance for the surviving spouse under RSA 100-A:13, the surviving spouse shall be entitled to a proportional share of the $10,000.

(2)  [Repealed.]

(3)  [Repealed.]

(d)  Active group II members who commenced service prior to July 1, 2011 and who have not attained vested status prior to January 1, [2012] 2013 shall be subject to the following transition provisions for years of service required for regular service retirement, the minimum age for regular service retirement, and the multiplier used to calculate the retirement annuity[, which shall be applicable on or after January 1, 2012] according to the following table:

Creditable service on Minimum years Minimum Annuity

January 1, 2012 of service age attained multiplier

(1) Less than 4 years 24 age 49 2.1%

(2) At least 4 years 23 age 48 2.2%

but less than 6 years

(3) At least 6 years but 22 age 47 2.3%

less than 8 years

(4) At least 8 years but 21 age 46 2.4%

less than 10 years]

(1) Less than 1 year 24 age 49 2.1%

(2) At least 1 years 24  age 49 2.1%

but less than 2 years

(3) At least 2 years but 24 age 49 2.1%

less than 3 years

(4) At least 3 years but 24 age 49 2.1%

less than 4 years

(5) At least 4 years 23 age 48 2.2%

but less than 5 years

(6) At least 5 years 23  age 48 2.2%

but less than 6 years

(7) At least 6 years but 22 age 47 2.3%

less than 7 years

(8) At least 7 years but 22 age 47 2.3%

less than 8 years

(9) At least 8 years but 21 age 46 2.4%

less than 9 years

(e)  Notwithstanding the transition provisions of subparagraph (d), the member may replace the additional years of service required for minimum retirement age with the years of service that are purchased under RSA 100-A:4, IX.  Therefore, allowing the member to retire between the age of 45 and 49 depending upon the years of service purchased.  The purchased years under RSA 100-A:4, IX shall have an annual multiplier of 2.5 percent regardless of the percentage listed in subparagraph (d).

5  Retirement; Maximum Retirement Benefit.  Amend RSA 100-A:6-a to read as follows:

100-A:6-a  Maximum Retirement Benefit.  

(a)  Notwithstanding any other provision of this chapter to the contrary, for members who commenced service before [July 1, 2009] July 1, 2001, [or have attained vested status prior to January 1, 2012,] a member's initial calculation of the retirement benefit granted under the provisions of RSA 100-A:5 or RSA 100-A:6 shall not exceed 100 percent of the member's highest year of earnable compensation.

(b)  For members who commenced service on or after [July 1, 2009 and have not attained vested status prior to January 1, 2012,] January 1, 2001 and before July 1, 2011, a member's maximum retirement benefit granted under the provisions of RSA 100-A:5 or RSA 100-A:6 shall not exceed the lesser of [85] 100 percent of the member's average final compensation or [$120,000] $125,000. The maximum benefit shall increase annually 1.25 percent on January 1 of each year.  The retirement system shall publish the current maximum benefit.  

(c)  For members who commenced service on or after July 1, 2011, a member's maximum retirement benefit granted under the provisions of RSA 100-A:5 or RSA 100-A:6 shall not exceed the lesser of 85 percent of the member's average final compensation or $125,000.  The maximum benefit shall increase annually 1.25 percent on January 1 of each year.  The retirement system shall publish the current maximum benefit.  

(d)  Nothing in this section shall affect the ability of a member to receive disability benefits pursuant to RSA 100-A:6, II(b) and (c).  This provision shall not limit the application of supplemental allowances.

6  Retirement System; Group II; Date Change for Application of Retirement Provisions Adopted in 2011 to Members in Vested Status.  Amend the following RSA provisions by replacing the term "January 1, 2012" with the term "January 1, 2013":  21-I:30, VIII; 100-A:1, XVII(c); 100-A:1, XVII(d)(1); 100-A:1, XVIII(b); 100-A:1, XVIII(d)(1); 100-A:1, XXXVII (b)(1) and (3); 100-A:5, II(a); 100-A:5, II(b)(2); 100-A:5, II(c)(1); 100-A:5, II(d)-(except table heading); 100-A:6, II(b); 100-A:6, II(d)(1) and (3); 100-A:10, II(b); 100-A:16, I(aa); 100-A:19-b, II(a) and (c); 100-A:19-d.

7  Subsequent Changes Effective January 1, 2025; Retirement System; Group II; Date Change for Application of Retirement Provisions Adopted in 2011 to Members in Vested Status.  Amend the following RSA provisions by replacing the term "January 1, 2013" with the term "January 1, 2014": 21-I:30, VIII; 100-A:1, XVII(c); 100-A:1, XVII(d)(1); 100-A:1, XVIII(b); 100-A:1, XVIII(d)(1); 100-A:1, XXXVII (b)(1) and (3); 100-A:5, II(a); 100-A:5, II(b)(2); 100-A:5, II(c)(1); 100-A:5, II(d)-(except table heading); 100-A:6, II(b); 100-A:6, II(d)(1) and (3); 100-A:10, II(b); 100-A:16, I(aa); 100-A:19-b, II(a) and (c); 100-A:19-d; 100-A:5, II (d); and delete subparagraph (9) from the table in RSA 100-A:5, II(d).

8  Subsequent Changes Effective January 1, 2026; Retirement System; Group II; Date Change for Application of Retirement Provisions Adopted in 2011 to Members in Vested Status.  Amend the following RSA provisions by replacing the term "January 1, 2014" with the term "January 1, 2015":  21-I:30, VIII; 100-A:1, XVII(c); 100-A:1, XVII(d)(1); 100-A:1, XVIII(b); 100-A:1, XVIII(d)(1); 100-A:1, XXXVII (b)(1) and (3); 100-A:5, II(a); 100-A:5, II(b)(2); 100-A:5, II(c)(1); 100-A:5, II(d)-(except table heading); 100-A:6, II(b); 100-A:6, II(d)(1) and (3); 100-A:10, II(b); 100-A:16, I(aa); 100-A:19-b, II(a) and (c); 100-A:19-d; 100-A:5, II (d); and delete subparagraph (8) from the table in RSA 100-A:5, II(d).

9  Subsequent Changes Effective January 1, 2027; Retirement System; Group II; Date Change for Application of Retirement Provisions Adopted in 2011 to Members in Vested Status.  Amend the following RSA provisions by replacing the term "January 1, 2015" with the term "January 1, 2016":  21-I:30, VIII; 100-A:1, XVII(c); 100-A:1, XVII(d)(1); 100-A:1, XVIII(b); 100-A:1, XVIII(d)(1); 100-A:1, XXXVII (b)(1) and (3); 100-A:5, II(a); 100-A:5, II(b)(2); 100-A:5, II(c)(1); 100-A:5, II(d)-(except table heading); 100-A:6, II(b); 100-A:6, II(d)(1) and (3); 100-A:10, II(b); 100-A:16, I(aa); 100-A:19-b, II(a) and (c); 100-A:19-d; 100-A:5, II (d); and delete subparagraph (7) from the table in RSA 100-A:5, II(d).

10  Subsequent Changes Effective January 1, 2028; Retirement System; Group II; Date Change for Application of Retirement Provisions Adopted in 2011 to Members in Vested Status.  Amend the following RSA provisions by replacing the term "January 1, 2016" with the term "January 1, 2017": 21-I:30, VIII; 100-A:1, XVII(c); 100-A:1, XVII(d)(1); 100-A:1, XVIII(b); 100-A:1, XVIII(d)(1); 100-A:1, XXXVII (b)(1) and (3); 100-A:5, II(a); 100-A:5, II(b)(2); 100-A:5, II(c)(1); 100-A:5, II(d)-(except table heading); 100-A:6, II(b); 100-A:6, II(d)(1) and (3); 100-A:10, II(b); 100-A:16, I(aa); 100-A:19-b, II(a) and (c); 100-A:19-d; 100-A:5, II (d); and delete subparagraph (6) from the table in RSA 100-A:5, II(d).

11  Subsequent Changes Effective January 1, 2029; Retirement System; Group II; Date Change for Application of Retirement Provisions Adopted in 2011 to Members in Vested Status.  Amend the following RSA provisions by replacing the term "January 1, 2017" with the term "January 1, 2018": 21-I:30, VIII; 100-A:1, XVII(c); 100-A:1, XVII(d)(1); 100-A:1, XVIII(b); 100-A:1, XVIII(d)(1); 100-A:1, XXXVII (b)(1) and (3); 100-A:5, II(a); 100-A:5, II(b)(2); 100-A:5, II(c)(1); 100-A:5, II(d)-(except table heading); 100-A:6, II(b); 100-A:6, II(d)(1) and (3); 100-A:10, II(b); 100-A:16, I(aa); 100-A:19-b, II(a) and (c); 100-A:19-d; 100-A:5, II (d); and delete subparagraph (5) from the table in RSA 100-A:5, II(d).

12  Subsequent Changes Effective January 1, 2030; Retirement System; Group II; Date Change for Application of Retirement Provisions Adopted in 2011 to Members in Vested Status.  Amend the following RSA provisions by replacing the term "January 1, 2018" with the term "January 1, 2019": 21-I:30, VIII; 100-A:1, XVII(c); 100-A:1, XVII(d)(1); 100-A:1, XVIII(b); 100-A:1, XVIII(d)(1); 100-A:1, XXXVII (b)(1) and (3); 100-A:5, II(a); 100-A:5, II(b)(2); 100-A:5, II(c)(1); 100-A:5, II(d) -(except table heading); 100-A:6, II(b); 100-A:6, II(d)(1) and (3); 100-A:10, II(b); 100-A:16, I(aa); 100-A:19-b, II(a) and (c); 100-A:19-d; 100-A:5, II (d); and delete subparagraph (4) from the table in RSA 100-A:5, II(d).

13  Subsequent Changes Effective January 1, 2031; Retirement System; Group II; Date Change for Application of Retirement Provisions Adopted in 2011 to Members in Vested Status.  Amend the following RSA provisions by replacing the term "January 1, 2019" with the term "January 1, 2020": 21-I:30, VIII; 100-A:1, XVII(c); 100-A:1, XVII(d)(1); 100-A:1, XVIII(b); 100-A:1, XVIII(d)(1); 100-A:1, XXXVII (b)(1) and (3); 100-A:5, II(a); 100-A:5, II(b)(2); 100-A:5, II(c)(1); 100-A:5, II(d) -(except table heading); 100-A:6, II(b); 100-A:6, II(d)(1) and (3); 100-A:10, II(b); 100-A:16, I(aa); 100-A:19-b, II(a) and (c); 100-A:19-d; 100-A:5, II (d); and delete subparagraph (3) from the table in RSA 100-A:5, II(d).

14  Subsequent Changes Effective January 1, 2032; Retirement System; Group II; Date Change for Application of Retirement Provisions Adopted in 2011 to Members in Vested Status.  Amend the following RSA provisions by replacing the term "January 1, 2020" with the term "January 1, 2021": 21-I:30, VIII; 100-A:1, XVII(c); 100-A:1, XVII(d)(1); 100-A:1, XVIII(b); 100-A:1, XVIII(d)(1); 100-A:1, XXXVII (b)(1) and (3); 100-A:5, II(a); 100-A:5, II(b)(2); 100-A:5, II(c)(1); 100-A:5, II(d)-(except table heading); 100-A:6, II(b); 100-A:6, II(d)(1) and (3); 100-A:10, II(b); 100-A:16, I(aa); 100-A:19-b, II(a) and (c); 100-A:19-d; 100-A:5, II (d); and delete subparagraph (2) from the table in RSA 100-A:5, II(d).

15  Subsequent Changes Effective January 1, 2033; Retirement System; Group II; Date Change for Application of Retirement Provisions Adopted in 2011 to Members in Vested Status.  Amend the following RSA provisions as follows:

I.  21-I:30, VIII; remove “and group II members who have not attained vested status prior to January 1, 2021 shall be as provided in the transition provisions in RSA 100-A:5, II(d)”.

II.  100-A:1, XVII(c); replace “who have not attained vested status prior to January 1, 2021” with “who commenced service prior to July 1, 2011”.

III.  100-A:1, XVII(d)(1); replace “who have not attained vested status prior to January 1, 2021” with “who commenced service on or after July 1, 2011”.

IV.  100-A:1, XVIII(b); replace “who have not attained vested status prior to January 1, 2021” with “who commenced service prior to July 1, 2011”.

V.  100-A:1, XVIII(d)(1); delete subparagraph (1).

VI.  100-A:1, XXXVII (b)(1) and (3); in (1), replace “in vested status before January 1, 2021” with “who commenced service before July 1, 2011”, and delete subparagraph (3).

VII.  100-A:5, II(a); replace “who is in vested status before January 1, 2021” with “who commenced service prior to July 1, 2011”; delete “and group II members who have not attained vested status prior to January 1, 2012 as provided in the transition provisions in RSA 100-A:5, II(d),”.

VIII.  100-A:5, II(b)(2); replace “who is in vested status before January 1, 2021” with “who commenced service prior to July 1, 2011”; delete “, and group II members who have not attained vested status prior to January 1, 2012 as provided in the transition provisions in RSA 100-A:5, II(d) with maximum number of years of credible service not in excess of 40.5 years”.

IX.  100-A:5, II(c)(1); replace “who is in vested status before January 1, 2021 and” with “who commenced service prior to July 1, 2011”; delete “and group II members who have not attained vested status prior to January 1, 2012 as provided in the transition provisions in RSA 100-A:5, II(d),”.

X.  100-A:5, II(d), delete the subparagraph.

XI.  100-A:6, II(b); replace “in vested status before January 1, 2021” with “who commenced service before July 1, 2011”; delete “and group II members who have not attained vested status prior to January 1, 2021 as provided in the transition provisions in RSA 100-A:5, II(d) with the maximum number of years of credible service not in excess of 40.5 years”.

XII.  100-A:6, II(d)(1) and (3); in (1) replace “who are in vested status before January 1, 2021” with “who commenced service before July 1, 2011”, and delete subparagraph (3).

XIII.  100-A:10, II(b); replace “who are in vested status before January 1, 2021” with “who commenced service before July 1, 2011”.  Delete “and group II members who have not attained vested status prior to January 1, 2021 shall be as provided in the transition provisions in RSA 100-A:5, II(d)”.

XIV.  100-A:16, I(aa); replace “who is in vested status before January 1, 2021” with “who commenced service prior to July 1, 2011”.

XV.  100-A:19-b, II(a) and (c); in (a)replace “who is in vested status before January 1, 2021” with “who commenced service prior to July 1, 2011”, and delete subparagraph (c).

XVI.  100-A:19-d; replace “for members who are in vested status with Group II service before January 1, 2012” with “for members who commenced service before July 1, 2011”.

16  Funding; Appropriations.  The sum of $25,000,000 per state fiscal year is hereby appropriated to the retirement system to fund the cost of benefits under this act.  Such sums shall be transferred on the July 1 each year until 2033.  The governor is authorized to draw a warrant for said sums out of any money in the treasury not otherwise appropriated.

17  Effective Date.

I.  Section 7 of this act shall take effect January 1, 2025.

II.  Section 8 of this act shall take effect January 1, 2026.

III.  Section 9 of this act shall take effect January 1, 2027.

IV.  Section 10 of this act shall take effect January 1, 2028.

V.  Section 11 of this act shall take effect January 1, 2029.

VI.  Section 12 of this act shall take effect January 1, 2030.

VII.  Section 13 of this act shall take effect January 1, 2031.

VIII.  Section 14 of this act shall take effect January 1, 2032.

IX.  Section 15 of this act shall take effect January 1, 2033.

X.  The remainder of this act shall take effect January 1, 2024.

2023-0483h

AMENDED ANALYSIS

 

This bill adjusts the transition provisions for group II service retirement adopted in 2011 over a 10 year period until 2033, and makes general fund appropriations each year to fund the cost of the benefits.