2000 SESSION

00-2216

10/09

HOUSE BILL 1549-FN

COMMITTEE: Executive Departments and Administration

ANALYSIS

This bill provides for additional COLA amounts for retired members of the retirement system who receive an allowance which is less than a certain amount.

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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

00-2216

10/09

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand

Be it Enacted by the Senate and House of Representatives in General Court convened:

1 New Paragraph; COLA Amounts for Certain Retired Members. Amend RSA 100-A:41-a by inserting after paragraph III the following new paragraph:

IV. For any COLAs granted according to this section, any member who after retiring on a full service retirement allowance, or that member's spouse if the member is deceased, receives an annual retirement allowance, including any previous COLAs, of less than $8,400, shall be granted twice the approved COLA amount applicable to the retired member's or spouse's retirement allowance. This paragraph shall not apply to any member or spouse receiving a reduced, vested deferred, or disability retirement allowance.

2 Effective Date. This act shall take effect July 1, 2000.

LBAO

00-2216

12/17/99

HB 1549-FN - FISCAL NOTE

FISCAL IMPACT: