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1 Exceeding Part-Time Hourly Limit. RSA 100-A:7, II is repealed and reenacted to read as follows:
II. If a retired member works part-time for one or more participating employers in any calendar year and exceeds the maximum number of hours permitted under RSA 100-A:1, XXXIV, the board shall impose a proportional reduction in the member's state annuity portion of the retirement allowance as follows:
(a) The board shall calculate the excess earnings resulting from hours worked in excess of the limit and shall reduce the retiree's annuity in an amount equal to the excess earnings. The total reduction shall be distributed as equal monthly reductions over a 12-month period.
(b) The board shall not suspend a retiree's entire annuity solely for exceeding the annual hourly limitation. A full suspension may occur only if the retiree knowingly and willfully engaged in substantial continued employment that materially violated the hourly limitation, or if the retiree failed to respond in good faith to a written inquiry by the retirement system concerning hours worked.
(c) A retiree may demonstrate just cause for having exceeded the hourly limitation, including reliance on inaccurate time or wage reporting by a part-time employer. If the board of trustees finds in writing that the retiree acted in good faith and that inequity would otherwise result, the board may waive all or part of the annuity reduction.
2 Effective Date. This act shall take effect 60 days after its passage.
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1 Exceeding Part-Time Hourly Limit. RSA 100-A:7, II is repealed and reenacted to read as follows:
II. If a retired member works part-time for one or more participating employers in any calendar year and exceeds the maximum number of hours permitted under RSA 100-A:1, XXXIV, the board shall impose a proportional reduction in the member's state annuity portion of the retirement allowance as follows:
(a) The board shall calculate the excess earnings resulting from hours worked in excess of the limit and shall reduce the retiree's annuity in an amount equal to the excess earnings. The total reduction shall be distributed as equal monthly reductions over a 12-month period.
(b) The board shall not suspend a retiree's entire annuity solely for exceeding the annual hourly limitation. A full suspension may occur only if the retiree knowingly and willfully engaged in substantial continued employment that materially violated the hourly limitation, or if the retiree failed to respond in good faith to a written inquiry by the retirement system concerning hours worked.
(c) A retiree may demonstrate just cause for having exceeded the hourly limitation, including reliance on inaccurate time or wage reporting by a part-time employer. If the board of trustees finds in writing that the retiree acted in good faith and that inequity would otherwise result, the board may waive all or part of the annuity reduction.
2 Effective Date. This act shall take effect 60 days after its passage.