Revision: April 5, 2023, 9:43 a.m.
Rep. McGough, Hills. 12
Rep. Aures, Merr. 13
Rep. Cambrils, Merr. 4
Rep. D. McGuire, Merr. 14
Rep. Stone, Sull. 8
April 5, 2023
2023-1319h
10/07
Floor Amendment to HB 250-FN
Amend the title of the bill by replacing it with the following:
AN ACT relative to the accidental death benefit payable for a retirement system member.
Amend the bill by replacing all after the enacting clause with the following:
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] 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 [50] 100 percent of the member's [annual rate of earnable compensation at the date of the member's death] 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.
2023-1319h
AMENDED ANALYSIS
This bill increases the amount of the state retirement annuity payable upon the accidental death of a retirement system member, but which shall not exceed $85,000. The bill also provides that future accidental death benefits are funded from state general funds.