HB 1447-FN - AS INTRODUCED
2020 SESSION
20-2365
10/04
HOUSE BILL 1447-FN
AN ACT relative to penalties for retired members of the retirement system exceeding part-time hourly limit.
SPONSORS: Rep. Abramson, Rock. 20
COMMITTEE: Executive Departments and Administration
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ANALYSIS
This bill revises the penalty for a retired member of the retirement system working part-time for a retirement system employer who exceeds the maximum hours during a calendar year to be a 23 percent deduction from the part-time compensation for the remainder of the year.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
20-2365
10/04
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty
AN ACT relative to penalties for retired members of the retirement system exceeding part-time hourly limit.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Retirement System; Exceeding Part-Time Employment Limit; Penalty. Amend RSA 100-A:7, II to read as follows:
II. Any retired member who, in any calendar year, works part-time for one or more participating employers and exceeds the maximum permitted hours as provided in RSA 100-A:1, XXXIV, shall [forfeit the state annuity portion of his or her retirement allowance, and any allocable cost of living adjustments, with such forfeiture] have deducted from the compensation paid to the retired member by the part-time employer or employers, a penalty of 23 percent of the compensation paid commencing as soon as administratively feasible [in the next calendar year and continuing for a period of 12 months] and ending at the last payment for the calendar year. Sums deducted shall be paid to the state annuity accumulation fund. The executive director shall certify to the proper employer authority or officer responsible for making the payroll of the part-time employee of the deductions herein provided.
2 Effective Date. This act shall take effect January 1, 2021.
20-2365
11/12/19
HB 1447-FN- FISCAL NOTE
AS INTRODUCED
AN ACT relative to penalties for retired members of the retirement system exceeding part-time hourly limit.
FISCAL IMPACT: [ X ] State [ ] County [ X ] Local [ ] None
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STATE: | FY 2020 | FY 2021 | FY 2022 | FY 2023 |
Appropriation | $0 | $0 | $0 | $0 |
Revenue | $0 | Indeterminable | Indeterminable | Indeterminable |
Expenditures | $0 | Indeterminable | Indeterminable | Indeterminable |
Funding Source: | [ X ] General [ X ] Education [ X ] Highway [ X ] Other | |||
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LOCAL: |
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Revenue | $0 | $0 | $0 | $0 |
Expenditures | $0 | Indeterminable | Indeterminable | Indeterminable |
METHODOLOGY:
This bill changes the penalty for retired members of the New Hampshire Retirement System (NHRS) working part-time for participating employers who exceed the maximum permitted hours allowed. Currently, the penalty is forfeiture of the state annuity portion of the individual's retirement allowance and any allocable cost of living adjustments. The bill proposes to change this to a deduction of 23% of compensation paid by the employer or employers. Such deduction will be made as soon as administratively feasible and ending at the last payment for the calendar year, removing the current reference to the deduction beginning in the next calendar year and continuing for 12 months. The sums deducted will be paid to the state annuity accumulation fund. The NHRS Executive Director shall certify the deductions to the proper