Bill Text: NH HB227 | 2012 | Regular Session | Introduced
Bill Title: Relative to the membership of the retirement system board of trustees.
Spectrum: Partisan Bill (Republican 6-0)
Status: (Failed) 2012-01-04 - House Inexpedient to Legislate: Motion Adopted Voice Vote; House Journal 7, PG.428 [HB227 Detail]
Download: New_Hampshire-2012-HB227-Introduced.html
HB 227-FN – AS INTRODUCED
2011 SESSION
10/05
HOUSE BILL 227-FN
AN ACT relative to the membership of the retirement system board of trustees.
SPONSORS: Rep. Hawkins, Hills 18; Rep. Reagan, Rock 1; Rep. Kurk, Hills 7; Sen. Bradley, Dist 3; Sen. Boutin, Dist 16; Sen. White, Dist 9
COMMITTEE: Special Committee on Public Employee Pensions Reform
This bill reduces the number of members of the board of trustees of the New Hampshire retirement system.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
11-0369
10/05
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Eleven
AN ACT relative to the membership of the retirement system board of trustees.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Retirement System; Administration; Membership of Board. Amend RSA 100-A:14, I to read as follows:
I. The administration of this system is vested in a board of [14] 8 trustees. Each newly appointed or reappointed trustee shall have familiarity with or experience in finance or business management. The state treasurer shall be an ex officio voting member of the board. The governor and council shall appoint 2 trustees, to be known as non-member trustees, who shall be qualified persons with investment and/or financial experience as provided in this paragraph and not be members of the system, and who shall serve for a term of 2 years and until their successors are appointed and qualified. The non-member trustees of the board shall have substantial experience in the field of institutional investment or finance, taking into account factors such as educational background, business experience, and professional licensure and designations. The original appointment of one of the non-member trustees shall be for a term of one year. The remaining [11] 5 members of the board shall consist of [2 employees, 2 teachers, 2 permanent policemen, 2 permanent firemen] one group I member, one group II member, one member of the senate who shall be appointed annually by the senate president, one member of the house of representatives who serves on the executive departments and administration committee and who shall be appointed annually by the speaker of the house, and one person representing management in local government. Whenever a vacancy occurs, the senate president or the speaker of the house shall fill the vacancy in the same manner by appointing a senate or a house member who shall serve for the unexpired term. The New Hampshire state employees’ association, the New Hampshire education association, the New Hampshire police association, the New Hampshire state permanent firemen’s association, and the New Hampshire Local Government Center shall each annually nominate from their members a panel of 5 persons, all of whom except for the panel of the Local Government Center shall be active members of the retirement system, or one of the 4 predecessor systems, no later than May 31 of each year, and the panels so named shall be filed with the secretary of state no later than June 10 of each year. From [each of] the above named panels, the governor and council shall appoint [one person annually to] the members of the board[, except for the panel of the Local Government Center, which shall have one person appointed every 2 years] as needed so as to maintain the representation on the board. Members appointed to the board in the manner aforesaid shall serve for a term of 2 years. Each member so appointed shall hold office until his or her successor shall be appointed and qualified. Whenever a vacancy occurs, the governor and council shall fill the vacancy by appointing a member who shall serve for the unexpired term [from the same panel from which the former member was appointed]. The governor shall designate one of the non-member trustees to serve as chairman of said board of trustees. The other non-member trustee shall serve as the vice-chair.
2 Quorum. Amend RSA 100-A:14, IV to read as follows:
IV. Each trustee, including the chairman, shall be entitled to one vote in the board of trustees. [Seven] Five trustees shall constitute a quorum for the transaction of any business of the board of trustees. [Seven] Five votes shall be necessary for any resolution or action by the board at any meeting.
3 Application; Board of Trustees Membership. Members of the board of trustees for the retirement system on the effective date of this section shall serve for the remainder of their terms. In order to conform to RSA 100-A:14, I as amended by section 1 of this act, the 6 retirement system member trustees whose terms are the first to expire after the effective date of this section shall not be appointed, provided the board maintains at least one group I and one group II member, and those positions shall be eliminated from the board of trustees.
4 Effective Date. This act shall take effect 60 days after its passage.
LBAO
11-0369 12/29/10
HB 227-FN - FISCAL NOTE
AN ACT relative to the membership of the retirement system board of trustees.
FISCAL IMPACT:
The Legislative Budget Assistant has determined that this legislation has a total fiscal impact of less than $10,000 in each of the fiscal years 2011 through 2015.
