This bill introduces a new section to the New Hampshire retirement system, specifically providing a supplemental retirement allowance for certain retired group II members and their beneficiaries. The new section, RSA 100-A:41-f, stipulates that retired group II members who have been retired for at least 120 months but not more than 239 months prior to or on July 1, 2025, will receive a supplemental allowance calculated at $500 for each year of retirement. Additionally, those who have been retired for 240 months or more will receive a fixed supplemental allowance of $5,000. The total cost of these allowances will be funded by the state general fund, with the governor authorized to draw the necessary funds from the treasury.

Furthermore, the bill specifies that the supplemental allowance will become a permanent addition to the beneficiaries' base retirement allowance, included in their monthly annuity payments. The retirement system is required to make these payments as soon as administratively feasible, but no later than January 1, 2027. The act is set to take effect on June 30, 2026. The bill does not indicate any deletions from current law but introduces significant new provisions to enhance the retirement benefits for eligible group II retirees.