2/22/01 0227s

2002 SESSION

01-0879

10/01

SENATE BILL 115-FN

COMMITTEE: Executive Departments and Administration

ANALYSIS

This bill grants a special supplemental allowance, or COLA, to retired firefighters in the retirement system who retired on or before July 1, 1994.

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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

2/22/01 0227s

01-0879

10/01

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Two

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

2:1 Supplemental Allowance for Group II Permanent Firefighter Members.

I. As of January 1, 2001, all group II permanent firemen beneficiaries of the New Hampshire retirement system or its predecessor systems who retired on or before July 1, 1994, and who are receiving retirement allowances according to RSA 100-A or RSA 102 shall receive a supplemental allowance of 5 percent.

II. The supplemental allowance shall become a permanent addition to the beneficiary's base retirement allowance, as provided in RSA 100-A:41-a.

2:2 Funding of Supplemental Allowances. The granting of the supplemental allowances provided in section 1 of this act shall be contingent on terminal funding of the total actuarial cost thereof at the time of granting. Such terminal funding shall be from the fire component of the special account established under RSA 100-A:16, II(h).

2:3 Effective Date. This act shall take effect 60 days after its passage.

(Approved: January 30, 2002)

(Effective Date: March 31, 2002)