Bill > HB1471

This bill modifies the calculation of "average final compensation" for certain group II retirement system members (specifically police and fire personnel) who began service before July 1, 2011 and were not vested by January 1, 2012. The key change involves how extra and special duty pay is included in the compensation calculation. Previously, the law had restrictions on including compensation paid above the base rate. Now, the bill stipulates that the average annual compensation for extra and special duty pay in the highest 5 years of service cannot exceed the average annual amount of such compensation over the member's last 5 years of creditable service (or all years if less than 5), as reported by the employer. This adjustment aims to provide a more standardized and fair method of calculating retirement benefits for these specific public safety employees. The bill will take effect 60 days after its passage, giving time for implementation by the state retirement system.

Government Affairs

https://gc.nh.gov/bill_Status/billinfo.aspx?id=2257&inflect=2