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1 Retirement System; Accidental Death Benefits; Group I; Annuity Payable Upon Death. Amend RSA 100-A:8, I (b) to read as follows:
(b) Upon the accidental death of a group I member the amount of the state annuity payable shall be equal to 50 percent of the member's average final compensation .
2 Retirement System; Accidental Death Benefits; Group II; Annuity Payable Upon Death. Amend RSA 100-A:8, II (b) to read as follows:
(b) Upon the accidental death of a group II member the amount of the state annuity payable shall be equal to 50 percent of the member's annual rate of earnable compensation at the date of the member's death .
3 New Paragraph; Accidental Death Benefits; Funding. Amend RSA 100-A:8 by inserting after paragraph III the following new paragraph:
IV. For an accidental death occurring after the effective date of this paragraph, the total cost of terminally funding the accidental death benefit under this section shall be funded from state general funds. The retirement system shall annually certify the sum required to fund such benefits and such sum is hereby appropriated to the retirement system. The governor is authorized to draw a warrant for said sum out of any money in the treasury not otherwise appropriated.
4 Effective Date. This act shall take effect 60 days after its passage.
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1 Retirement System; Accidental Death Benefits; Group I; Annuity Payable Upon Death. Amend RSA 100-A:8, I (b) to read as follows:
(b) Upon the accidental death of a group I member the amount of the state annuity payable shall be equal to 100 percent of the member's average final compensation , but which shall not exceed $85,000 .
2 Retirement System; Accidental Death Benefits; Group II; Annuity Payable Upon Death. Amend RSA 100-A:8, II (b) to read as follows:
(b) Upon the accidental death of a group II member the amount of the state annuity payable shall be equal to 100 percent of the member's average final compensation, but which shall not exceed $85,000 .
3 New Paragraph; Accidental Death Benefits; Funding. Amend RSA 100-A:8 by inserting after paragraph III the following new paragraph:
IV. For an accidental death occurring after the effective date of this paragraph, the total cost of terminally funding the accidental death benefit under this section shall be funded from state general funds. The retirement system shall annually certify the sum required to fund such benefits and such sum is hereby appropriated to the retirement system. The governor is authorized to draw a warrant for said sum out of any money in the treasury not otherwise appropriated.
4 Effective Date. This act shall take effect 60 days after its passage.