Bill Text: NH HB1307 | 2024 | Regular Session | Amended

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Providing a supplemental appropriation for members of the retirement system receiving an accidental disability retirement allowance.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2024-07-26 - Signed by Governor Sununu 07/19/2024; Chapter 233; eff. 07/01/2024 [HB1307 Detail]

Download: New_Hampshire-2024-HB1307-Amended.html

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HB 1307-FN - AS AMENDED BY THE HOUSE

 

22Feb2024... 0510h

2024 SESSION

24-2262

05/10

 

HOUSE BILL 1307-FN

 

AN ACT providing a supplemental appropriation for members of the retirement system receiving an accidental disability retirement allowance.

 

SPONSORS: Rep. Damon, Sull. 8

 

COMMITTEE: Executive Departments and Administration

 

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ANALYSIS

 

This bill makes a one-time supplemental allowance to members of the retirement system who are receiving an accidental disability retirement allowance, and provides for future supplemental allowances and cost of living adjustments for accidental disability beneficiaries to be granted without regard to years of creditable service.

 

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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

22Feb2024... 0510h 24-2262

05/10

 

STATE OF NEW HAMPSHIRE

 

In the Year of Our Lord Two Thousand Twenty Four

 

AN ACT providing a supplemental appropriation for members of the retirement system receiving an accidental disability retirement allowance.

 

Be it Enacted by the Senate and House of Representatives in General Court convened:

 

1  Retirement System; Accidental Disability Retirement Allowance; Supplemental Appropriation.

I.  An additional one-time allowance of $500 shall be paid during state fiscal year 2024 to retired members of the retirement system receiving an allowance, or any beneficiary of such a member who is receiving a survivorship pension benefit, who are eligible as follows:

(a)  The member is receiving an accidental disability retirement allowance under RSA 100-A:6;

(b)  The member retired and has been receiving an allowance for at least 5 years prior to or on July 1, 2023; and

(c)  The annual retirement allowance of the member on June 30, 2023 was not greater than $50,000.

II.  The additional allowance shall not become a permanent addition to the member's base retirement allowance.

III.  The total cost of the additional allowances, as determined by the actuary and certified by the board of trustees of the retirement system, shall be funded from the state general fund in the fiscal year ending June 30, 2024.  The sum necessary is hereby appropriated to the board of trustees.  The governor is authorized to draw a warrant for said sum out of any money in the treasury not otherwise appropriated.

2  New Subparagraph; Accidental Disability Retirement Benefits; Cost of Living Adjustments.  Amend RSA 100-A:6, II(d) by inserting after subparagraph (3) the following new subparagraph:

(4)  Any member who is receiving an accidental disability retirement allowance under subparagraph (d) shall be granted any supplemental allowance or COLA authorized by the legislature without regard to a minimum number of years of creditable service for eligibility to receive the supplemental allowance or COLA.  This subparagraph shall apply to any one-time supplemental allowance or COLA authorized by the legislature on or after the effective date of this subparagraph unless the terms of such authorizing legislation specifically provide otherwise.

3  Effective Date.  This act shall take effect June 30, 2024.

 

LBA

24-2262

11/27/23

 

HB 1307-FN- FISCAL NOTE

AS INTRODUCED

 

AN ACT providing a supplemental appropriation for members of the retirement system receiving a disability retirement allowance.

 

FISCAL IMPACT:      [ X ] State              [    ] County               [    ] Local              [    ] None

Estimated State Impact - Increase / (Decrease)
		FY 2024	FY 2025		FY 2026	FY 2027
Revenue		$0	$0		$0	$0
Revenue Fund(s)		None
Expenditures		$401,000	$0		$0	$0
Funding Source(s)		General Fund
Appropriations		$401,000	$0		$0	$0
Funding Source(s)		General Fund
• Does this bill provide sufficient funding to cover estimated expenditures? [X] Yes • Does this bill authorize new positions to implement this bill? [X] N/A

 

METHODOLOGY:

The bill gives a $500 one-time payment to retirement system members meeting the following specific criteria: they must be receiving an accidental disability retirement allowance under RSA 100-A:6, have retired and been receiving the allowance for at least 5 years by July 1, 2023, and their annual retirement allowance as of June 30, 2023, should not exceed $40,000.  The cost would be covered by a State General fund appropriation in fiscal year ending June 30, 2024.

 

The New Hampshire Retirement System (NHRS) states currently there are 802 members who would qualify for the $500 payment.  The cost of the one-time allowance payment would be $401,000 (802 x $500).  The NHRS also states the bill amendments to RSA 100-A:6, II(d) to ensure that members receiving accidental disability retirement allowances are entitled to future supplemental allowances or COLAs authorized by the legislature, regardless of minimum service requirements, unless specified otherwise in the authorizing legislation.  

 

AGENCIES CONTACTED:

New Hampshire Retirement System