Revision: Nov. 3, 2023, 10:25 a.m.
2024 SESSION
24-2668.0
10/08
HOUSE BILL [bill number]
AN ACT relative to average final compensation for certain group II members.
SPONSORS: [sponsors]
COMMITTEE: [committee]
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ANALYSIS
This bill redefines average final compensation for group II retirement system members who commenced service prior to July 1, 2011 and who did not attain vested status prior to January 1, 2012.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
24-2668.0
10/08
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty Four
AN ACT relative to average final compensation for certain group II members.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Retirement System; Average Final Compensation; Group II. Amend RSA 100-A:1, XIII(c)(1) to read as follows:
(c)(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, 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] last 7 years of creditable service on or after January 1, 2012.
2 Effective Date. This act shall take effect 60 days after its passage.