Revision: Dec. 30, 2025, 2:43 p.m.
SB 601-FN - AS INTRODUCED
2026 SESSION
26-2217
06/09
SENATE BILL 601-FN
SPONSORS: Sen. Long, Dist 20; Sen. Rosenwald, Dist 13; Sen. Perkins Kwoka, Dist 21; Sen. Fenton, Dist 10; Sen. Altschiller, Dist 24
COMMITTEE: Finance
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ANALYSIS
This bill provides that the state shall pay 7.5 percent of contributions of retirement system employers other than the state for group I teachers and group II members. This bill also specifies that the state’s share shall be transferred from the education trust fund to the retirement system by the commissioner of revenue administration, with distributions treated as part of general revenue sharing.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
26-2217
06/09
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty-Six
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Retirement System; Employer Contributions; State Share of Contributions. Amend RSA 100-A:16, II(b) and (c) to read as follows:
(b) The contributions of each employer for benefits under the retirement system on account of group II members shall consist of a percentage of the earnable compensation of its members to be known as the "normal contribution," and an additional amount to be known as the "accrued liability contribution;" provided that beginning with state fiscal year [2013] 2026 and for [each state fiscal] one year thereafter, the department of revenue administration shall hold the state’s share of contributions for municipalities, but not for school districts, before passing it to the municipality for revenue calculation purposes; any employer [shall pay the full amount of such total contributions] other than the state, shall pay 92.5 percent of such total contributions, and 7.5 percent thereof shall be paid by the state; and provided further that, in case of group II members employed by the state, the state shall pay both normal and accrued liability contributions. The rate percent of such normal contribution, including contributions on behalf of group II members whose group II creditable service is in excess of 40 years, in each instance shall be fixed on the basis of the liabilities of the system with respect to the particular members of the various member classifications as shown by actuarial valuations, except as provided in subparagraph (i).
(c) The contributions of each employer for benefits under the retirement system on account of group I members shall consist of a percentage of the earnable compensation of its members to be known as the "normal contribution," and an additional amount to be known as the "accrued liability contribution;" provided that beginning with state fiscal year [2013] 2026 and for [each state fiscal] one year thereafter, the department of revenue administration shall hold the state’s share of contributions for municipalities before passing it to the municipality for revenue calculation purposes; and, any employer other than the state, shall pay 92.5 percent of such total contributions, and 7.5 percent thereof shall be paid by the state; and provided further that, in case of teacher members employed by the state, the state shall pay both normal and accrued liability contributions. The rate percent of such normal contribution in each instance shall be fixed on the basis of the liabilities of the system with respect to the particular members of the various member classifications as shown by actuarial valuation, except as provided in subparagraph (i).
(c-1) [Repealed.]
(d) [[Repealed.]] The state’s 7.5 percent share of employer contributions under subparagraphs (b) and (c) shall be paid to the New Hampshire retirement system by the commissioner of revenue administration. The commissioner shall first credit the amount to the education trust fund as state tax revenue under RSA 76, and then disburse such amounts to the retirement system in accordance with this section. The commissioner shall make such distribution on a quarterly basis, or on another schedule as the commissioner, the state treasurer, and the executive director of the retirement system may jointly determine is administratively efficient. The sums transferred shall be treated as part of the state’s general revenue distributions for accounting and municipal reimbursement purposes under RSA 71 through 90.
2 Effective Date. This act shall take effect July 1, 2026.
26-2217
Revised 12/30/25
SB 601-FN- FISCAL NOTE
AS INTRODUCED
FISCAL IMPACT:
The Office of Legislative Budget Assistant is unable to complete a fiscal note for this bill as it is awaiting information from the New Hampshire Retirement System. The Department was initially contacted on 11/14/25 for a fiscal note worksheet, with follow-up contact made on 11/24/25. When completed, the fiscal note will be forwarded to the Senate Clerk's Office.
AGENCIES CONTACTED:
New Hampshire Retirement System