Revision: Dec. 27, 2022, 4:33 p.m.
2023 SESSION
23-0713.1
10/08
HOUSE BILL [bill number]
AN ACT relative to group II retirement under transition provisions in the retirement system.
SPONSORS: [sponsors]
COMMITTEE: [committee]
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ANALYSIS
This bill adjusts the application of the minimum age, minimum years of service, and annuity multipliers in the transition provisions for group II service retirement adopted in 2011 to be applicable as of January 1, 2014 rather than 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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
23-0713.1
10/08
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty Three
AN ACT relative to group II retirement under transition provisions in the retirement system.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 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, 2014": 21-I:30, VIII; 100-A:1, XVII(a); 100-A:1, XVII(b)(1); 100-A:1, XVIII(a); 100-A:1, XVIII(b)(1) and (2); 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:6, II(b); 100-A:6, II(d)(1) and (3); 100-A:6-a; 100-A:10, II(b); 100-A:16, I(aa); 100-A:19-b, II(a) and (c); 100-A:19-d.
2 Retirement System; Service Retirement; Transition Provisions for Group II; Minimum Service; Age, Annuity Multipliers. Amend RSA 100-A:5, II(d) to read as follows:
(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] 2014 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] 2014 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] 23 age [49] 48 [2.1%] 2.2%
(2) At least 4 years [23] 22 age [48] 47 [2.2%] 2.3%
but less than 6 years
(3) At least 6 years but [22] 21 age[ 47] 46 [2.3%] 2.4%
less than 8 years
[(4) At least 8 years but 21 age 46 2.4%
less than 10 years]
3 Effective Date. This act shall take effect December 1, 2024.