HB 173-FN - AS INTRODUCED
2021 SESSION
21-0119
10/04
HOUSE BILL 173-FN
AN ACT requiring the independent investment committee of the New Hampshire
retirement system to report investment fees.
SPONSORS: Rep. Schuett, Merr. 20; Rep. Schultz, Merr. 18; Rep. Ellison, Merr. 27; Rep. M.
Pearson, Rock. 34; Rep. Merchant, Sull. 4
COMMITTEE: Executive Departments and Administration
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ANALYSIS
This bill requires the quarterly report of the retirement system's independent investment
committee to include a description of investment fees. The bill also requires independent investment
committee reports to be available on the retirement system's Internet website.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
 HB 173-FN - AS INTRODUCED
21-0119
10/04
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty One
AN ACT requiring the independent investment committee of the New Hampshire
retirement system to report investment fees.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 1 Retirement System; Investment Committee; Report on Investment Fees. Amend RSA 100-
2 A:15, II-a(c) to read as follows:
3 (c) Report to the board of trustees at least quarterly on the management, investment,
4 and reinvestment activities of the independent investment committee. The report shall include a
5 description of all fees incurred due to investment transactions.
6 2 Retirement System; Independent Investment Committee; Reports. RSA 100-A:15, X is
7 repealed and reenacted to read as follows:
8 X. The quarterly report of the independent investment committee under subparagraph II(c)
9 and the comprehensive annual financial report under paragraph VI shall be made available for
10 public inspection on the retirement system's Internet website.
11 3 Effective Date. This act shall take effect 60 days after its passage.
 LBA
21-0119
10/16/20
HB 173-FN- FISCAL NOTE
AS INTRODUCED
AN ACT requiring the independent investment committee of the New Hampshire
retirement system to report investment fees.
FISCAL IMPACT: [ ] State [ ] County [ ] Local [ X ] None
METHODOLOGY:
This bill requires the New Hampshire Retirement System (NHRS) to include a description of all
fees incurred due to investment transactions in the quarterly report on investment activity of the
independent investment committee. The bill also requires NHRS to post quarterly and annual
financial reports on their website. The NHRS states there is no expected fiscal impact to system
operations, funds or employer contribution rates as a result of these new requirements.
AGENCIES CONTACTED:
New Hampshire Retirement System


Statutes affected:
Ought to Pass: 100-A:15
latest version: 100-A:15