SB 458  - AS INTRODUCED

2018 SESSION

18-2712

10/05

SENATE BILL 458

AN ACT authorizing the purchase of retirement system creditable service by a certain surviving spouse.

SPONSORS: Sen. Birdsell, Dist 19; Sen. Morse, Dist 22; Sen. Carson, Dist 14; Rep. Guthrie, Rock. 13; Rep. Weyler, Rock. 13; Rep. Welch, Rock. 13; Rep. Green, Rock. 13

COMMITTEE: Executive Departments and Administration

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ANALYSIS

This bill provides for the election by a certain surviving spouse of a group II member to purchase up to one month 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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

18-2712

10/05

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Eighteen

AN ACT authorizing the purchase of retirement system creditable service by a certain surviving spouse.

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

1  New Hampshire Retirement System; Purchase of Creditable Service; Death Benefit for Matthew L. Moore.

I.  In recognition of the prior military service and nearly 10 years of service as a group II member of the New Hampshire retirement system, the surviving spouse of Officer Matthew L. Moore, a police officer for the town of Hampstead who died January 23, 2016, may purchase up to one month of service as creditable service on behalf of Matthew L. Moore in order to receive the death benefit provided by RSA 100-A:9, II, notwithstanding any provisions of RSA 100-A to the contrary.

II.  The surviving spouse of Officer Moore, if she elects the provisions of this act, shall make all payments of the full actuarial cost to the system on behalf of Matthew L. Moore for such creditable service.  The full actuarial cost of the service credit purchase shall be determined by the actuary based on methods and assumptions recommended by the actuary and approved by the board of trustees.  

2  Effective Date.  This act shall take effect upon its passage.