hb 0477

CHAPTER 116

HB 477-FN - FINAL VERSION

AN ACT relative to supplemental allowances for certain retired group I members of the New Hampshire retirement system.

SPONSORS: Rep. Dyer, Hills 8; Rep. Batchelder, Ches 2; Sen. Klemm, Dist 22; Sen. Hollingworth, Dist 23

This bill provides for a supplemental allowance for group I retired members who retired prior to July 1, 1991 so that they receive a certain minimum benefit amount.

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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

AN ACT relative to supplemental allowances for certain retired group I members of the New Hampshire retirement system.

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

116:1 New Section; Supplemental Allowance; Minimum Annual Allowance; Group I. Amend RSA 100-A by inserting after section 41-b the following new section:

I. An eligible retired group I member of the New Hampshire retirement system whose annual retirement allowance is less than $8500 shall receive a one-time supplemental allowance sufficient to provide an annual allowance of $8500. An eligible retired group I member shall be a member, or beneficiary of such member, who retired prior to July 1, 1991 with at least 20 years of creditable service under RSA 100-A:5, I, or member, or beneficiary of such member, who retired under RSA 100-A:6, I.

II. The one-time supplemental retirement allowance payable to each beneficiary of the member shall be determined as described in paragraph I except the specified amount of $8,500 shall be multiplied by the ratio of the beneficiary's annual retirement allowance to the member's annual retirement. The provisions of this section shall not apply to a group I member who has retired on a reduced or vested deferred retirement allowance. The additional allowance shall become a permanent addition to each member or beneficiary's base retirement allowance, as provided in RSA 100-A:41-a.

116:2 Group I Retirement for Teachers and Political Subdivision Employees. Amend RSA 100-A:52-a, VIII to read as follows:

VIII. Any person who is eligible to receive group insurance or other medical benefits under the provisions of this section, but who does not need and who declines such benefits because they would be duplicative of coverage under any employer-sponsored plan, shall nevertheless continue to be eligible and, upon ceasing to be eligible for the other coverage, shall be permitted to join the plan of the employer from which the member retired and to receive the benefits allowable under this section without any waiting period.