HB 1206-FN - AS AMENDED BY THE HOUSE
31jan02...2277h
2001 SESSION
10/09
HOUSE BILL 1206-FN
AN ACT increasing the annuity paid to a surviving spouse or beneficiary upon the accidental death of a group II permanent firemen member in the performance of duty.
SPONSORS: Rep. Baroody, Hills 42; Rep. Pepino, Hills 40; Rep. Clegg, Hills 23
COMMITTEE: Executive Departments and Administration
This bill increases the annuity payable to a surviving spouse or other beneficiary upon the accidental death of a group II permanent firemen member in the performance of duty.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
31jan02...2277h
01-2184
10/09
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand One
AN ACT increasing the annuity paid to a surviving spouse or beneficiary upon the accidental death of a group II permanent firemen member in the performance of duty.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Retirement System; Accidental Death; Group II Permanent Firemen Members; Annuity Paid to Spouse or Beneficiary Increased. Amend RSA 100-A:8, II(b) to read as follows:
(b) Upon the accidental death of a group II member the amount of the state annuity payable shall be equal to 50 percent of the member's annual rate of earnable compensation at the date of the member's death, except that upon the accidental death of a group II member who is a permanent fireman, while in the performance of duty at some definite time and place, the amount of the state annuity payable shall be equal to 100 percent of the member's annual rate of earnable compensation at the date of the member's death.
2 Effective Date. This act shall take effect 60 days after its passage.
LBAO
01-2184
Amended 2/14/02
HB 1206 FISCAL NOTE
AN ACT increasing the annuity paid to a surviving spouse or beneficiary upon the accidental death of a group II permanent firemen member in the performance of duty.
FISCAL IMPACT:
The New Hampshire Retirement System has stated this bill, as amended by the House, (House Amendment #2002-2277h) may increase state, county, and local expenditures by an indeterminable amount in FY 2002 and each year thereafter. There will be no fiscal impact on state, county, and local revenue.
The New Hampshire Retirement System's Special Account may decrease by $622,000 in FY 2003.
METHODOLOGY:
The System states this bill will increase the annuity payable to a surviving spouse or other beneficiary upon the accidental death of a Group II firemen member in the performance of duty at some definite time and place to 100% of member's annual rate of earnable compensation. The legislation does not specify the source of funding, therefore, the System has determined the cost to terminally fund these benefits, as well as the cost to fund these benefits through additional normal contributions. The cost to terminally fund these benefits as of June 30, 2002 would total $622,000 for firefighters. If these benefits were not terminally funded, this bill will increase normal rates (% rate of employer contribution) by .04% for Firefighter members which would result in an additional annual ongoing normal contribution of $30,000. In addition, there will be a one-time cost of $3,000 to modify the System's PC BENCAL. There is no additional administrative expense associated with this legislation.
The Special Account balance for Firemen as of June 30, 2001, adjusted for legislation enacted in the 2001, was $62,200,000.
The Actuary's letter is on file in the bill jacket in the House Clerk's Office.