24may01...1112h

2001 SESSION

01-1022

10/09

SENATE BILL 111-FN

COMMITTEE: Insurance

AMENDED ANALYSIS

This bills extends the time period for the payment for group health insurance premiums for teacher and political subdivision member retirees in the retirement system. The bill also extends the payment of health insurance premiums to certain vested deferred retirees.

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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

24may01...1112h

01-1022

10/09

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand One

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

264:1 Payment by Retirement System; Retired Group I Teachers and Political Subdivision Employees. Amend RSA 100-A:52-a, I(a) and (b) to read as follows:

(a) Any person, who has at least 20 years of creditable service as a group I member if age 60 or older, or at least 30 years of creditable service as a group I member if age 55-59, retired on or before July 1, [2004] 2008 as a group I teacher member or political subdivision employee member of the New Hampshire retirement system on service or ordinary disability retirement, provided that such person shall be entitled to retirement on the basis of group I creditable service, or any person retired on or before July 1, [2004] 2008, as a group I member whose service retirement benefit is based upon the provisions of RSA 100-A:19-c and who has a minimum of 20 years of creditable service as a group I member.

(b) Any person [who has completed no less than 20 years of group I creditable service, but] who for reasons other than retirement or death [ceased] ceases to be a group I teacher [member] or political subdivision employee [member] prior to attaining the age of 60, and who, as of July 1, [2004] 2008, receives a vested deferred retirement allowance and who has completed no less than 20 years of group I creditable service and subsequently attains the age of 60, or who has completed no less than 30 years of group I creditable service and subsequently attains the age of 55.

264:2 Application of Additional Benefits. Amend RSA 100-A:55, I-a and I-b to read as follows:

I-a. It is the intent of the legislature that future group I teacher members eligible after July 1, [2004] 2008 shall be included under the provisions of RSA 100-A:52-a only if the total cost of such inclusion can be terminally funded from the special account established under RSA 100-A:16, II(h).

I-b. It is the intent of the legislature that future group I political subdivision employee members eligible after July 1, [2004] 2008 shall be included under the provisions of RSA 100-A:52-a only if the total cost of such inclusion can be terminally funded from the special account established under RSA 100-A:16, II(h).

264:3 Funding.

I. The sum of $1 is hereby transferred from the group I employee special account balance existing on June 30, 2001 for the purpose of funding RSA 100-A:52-a as amended by this act.

II. The sum of $1 is hereby transferred from the group I teacher special account balance existing on June 30, 2001 for the purpose of funding RSA 100-A:52-a as amended by this act.

264:4 Effective Date. This act shall take effect July 1, 2001.

(Approved: July 13, 2001)

(Effective Date: July 1, 2001)