Section 100-A:17 Transfer of Funds. - New Hampshire Statutes

Within 60 days following November 1, 1967, May 1, 1968 and May 1, 1975, the board of trustees shall certify the amount on deposit in the employee annuity savings fund of the Employees' Retirement System of the state of New Hampshire, the teacher annuity savings fund of the New Hampshire Teachers' Retirement System, and that portion of the amounts on deposit in the retirement funds established under the New Hampshire Policemen's Retirement System and the New Hampshire Permanent Firemen's Retirement System attributable to assessments from permanent policemen and permanent firemen, which in each instance, are applicable to members of or participants in such systems who become members of this retirement system as of January 1, 1968, July 1, 1968 or July 1, 1975, respectively, and such amount, in each instance, shall be transferred to the credit of the member annuity savings fund of this system. On or before July 1, 1969, or July 1, 1976, whichever is applicable, the actuary shall certify to the board, on the basis of actuarial valuations as of June 30, 1968, or June 30, 1975, whichever is applicable, the amount on deposit in the respective state annuity accumulation funds and the balance on deposit in the respective retirement funds, which, in each instance, are applicable to such persons, and such amount, in each instance, shall be transferred to the credit of the state annuity accumulation fund of this system within 90 days after receipt of such certification.

Source. 1967, 134:1. 1974, 33:6, eff. July 1, 1974.