The bill HB 193-FN proposes amendments to the New Hampshire retirement system, including changes to the definitions of "teacher" and "extra or special duty." It specifies that a "teacher" can now be two individuals sharing one position, with various possible division ratios for each school semester. The definition of "extra or special duty" is clarified to mean work activities billed to a third party outside of a member's normal work schedule. The bill also addresses the non-participation option in the retirement system, stating it is not available for state positions created after July 1, 2011, nor for appointed fixed-term positions by political subdivisions after this date. It modifies the reinstatement of service credit, increasing the minimum contributions from one month to six months, and presumes employer fault in cases of failure to enroll compulsory members unless there is evidence of the person's election not to participate. Additionally, the bill amends military service credit provisions, allowing members to apply for credit after employment termination or leave of absence for qualified military service, with conditions for reemployment and payment to the system.

The bill also includes renumbering and removal of certain clauses and language to eliminate redundancy and update terminology. It renumbers a clause related to the application for credit under the system, removes duplicate language concerning service retirement for group I members, and repeals a redundant provision for group II retirement after July 1, 2011. The term "comprehensive annual financial report (CAFR)" is replaced with "annual comprehensive financial report (ACFR)" in several provisions. The act is approved on May 4, 2023, and will take effect on July 3, 2023.

Statutes affected:
Introduced: 100-A:1, 100-A:3, 100-A:4, 100-A:5
As Amended by the House: 100-A:1, 100-A:3, 100-A:4, 100-A:5
Version adopted by both bodies: 100-A:1, 100-A:3, 100-A:4, 100-A:5
CHAPTERED FINAL VERSION: 100-A:1, 100-A:3, 100-A:4, 100-A:5