This bill provides a one-time supplemental allowance of $500 to members of the retirement system who are receiving an accidental disability retirement allowance, as well as to any beneficiary receiving a survivorship pension benefit, under certain eligibility conditions. To be eligible, the member must have been receiving the allowance for at least five years as of July 1, 2023, and their annual retirement allowance as of June 30, 2023, must not exceed $50,000. This additional allowance is not intended to become a permanent part of the member's base retirement allowance. The cost of this supplemental allowance will be funded from the state general fund for the fiscal year ending June 30, 2025, and the necessary funds are appropriated to the board of trustees of the retirement system.

The bill also amends RSA 100-A:6, II(d) by inserting a new subparagraph that ensures any member receiving an accidental disability retirement allowance will be granted any supplemental allowance or cost of living adjustment (COLA) authorized by the legislature without regard to a minimum number of years of creditable service. This provision applies to any one-time supplemental allowance or COLA authorized by the legislature on or after the effective date of this subparagraph unless the authorizing legislation specifically states otherwise. The act is set to take effect on July 1, 2024.

Statutes affected:
Introduced: 100-A:6
As Amended by the House: 100-A:6
As Amended by the Senate: 100-A:6
Version adopted by both bodies: 100-A:6
CHAPTERED FINAL VERSION: 100-A:6