Bill Text: NH HB637 | 2025 | Regular Session | Introduced
Bill Title: Relative to the reduction in the calculation of state retirement annuities at age 65 for certain group I retirement system members.
Spectrum: Bipartisan Bill
Status: (Introduced) 2025-01-31 - Subcommittee Work Session: 02/06/2025 01:30 pm Legislative Office Building 306-308 [HB637 Detail]
Download: New_Hampshire-2025-HB637-Introduced.html
HB 637-FN - AS INTRODUCED
2025 SESSION
25-0699
05/11
HOUSE BILL 637-FN
SPONSORS: Rep. Luneau, Merr. 9; Rep. W. MacDonald, Rock. 16
COMMITTEE: Executive Departments and Administration
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ANALYSIS
This bill provides that the reduction of a retiree's annuity at the member's full retirement age under the federal Social Security system shall apply to any group I retired state employee member or retired teacher member of group I who retired prior to July 1, 2023, and who has not reached full social security retirement age by July 1, 2025.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
25-0699
05/11
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty Five
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Service Retirement Allowances for Teachers and State Group I Member Employees; Application of Benefit. ?RSA 100-A:5, I(b); 100-A:6, I(b)(1)(A) and (B); and 100-A:6, I(d)(1)(A) and (B), as amended by 2023, 79:459, relative to the reduction of a retiree's annuity at the member's full retirement age under the federal Social Security system, shall apply to any group I retired state employee member or retired teacher member of group I who retired prior to July 1, 2023, and who have not reached full social security retirement age by July 1, 2025.
2 Effective Date. ?This act shall take effect July 1, 2025.
25-0699
1/7/25
HB 637-FN- FISCAL NOTE
AS INTRODUCED
AN ACT relative to the reduction in the calculation of state retirement annuities at age 65 for certain group I retirement system members.
FISCAL IMPACT:
The Office of Legislative Budget Assistant is unable to complete a fiscal note for this bill as it is awaiting information from New Hampshire Retirement System. The Department was contacted on 12/16/24 for a fiscal note worksheet. When completed, the fiscal note will be forwarded to the House Clerk's Office.
AGENCIES CONTACTED:
New Hampshire Retirement System
