SB 81-FN - AS INTRODUCED
2003 SESSION
10/09
SENATE BILL 81-FN
AN ACT granting a retirement system annuity to the surviving spouse of Carl Morin.
SPONSORS: Sen. Gallus, Dist 1; Rep. Woodward, Coos 3; Rep. Poulin, Coos 3; Rep. Theberge, Coos 3; Rep. Guay, Coos 2
This bill grants a retirement system annuity to the surviving spouse of Carl Morin, a deceased group II member of the Berlin fire department.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
03-0702
10/09
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Three
AN ACT granting a retirement system annuity to the surviving spouse of Carl Morin.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Retirement Benefit Granted. Notwithstanding any requirements of RSA 100-A to the contrary, the New Hampshire retirement system, through the board of trustees, shall grant a state annuity to be paid to the surviving spouse, or otherwise to the estate, of Carl Morin, who died in 2002 and who was a group II retirement system member employed by the Berlin fire department. Such state annuity shall be determined according to the provisions for paying an accidental death benefit under RSA 100-A:8, II.
2 Effective Date. This act shall take effect 60 days after its passage.
LBAO
03-0702
1/9/03
SB 81-FN - FISCAL NOTE
AN ACT granting a retirement system annuity to the surviving spouse of Carl Morin.
FISCAL IMPACT:
The New Hampshire Retirement System states this bill will increase state restricted expenditures by $246,000 in FY 2003. There will be no fiscal impact on state, county, and local revenue or county and local expenditures.
METHODOLOGY:
The New Hampshire Retirement System states this bill would provide an annual state annuity payable to Mr. Carl Morin's surviving spouse, as determined under RSA 100-A:8, II. The terminal funding as of June 30, 2003 is $203,000, assuming his surviving spouse is not eligible to receive a lump sum payment under RSA 100-A:9 equal to his annual compensation of $43,000. If the intent of this legislation is to provide her with an annual annuity equal to 50% of his compensation, and she is also eligible to receive a lump sum under RSA 100-A:9, the terminal funding cost would be $246,000.
The Actuary's letter is on file in the bill jacket in the Senate Clerk's Office.