Section 100-A:41-b Supplemental Allowances for Certain Retired Group II Members. - New Hampshire Statutes

   I. An eligible retired group II member of the New Hampshire retirement system whose annual retirement allowance is less than an amount specified in paragraph II and who retired on or before June 30, 1998, shall receive a one-time supplemental allowance. An eligible retired group II member shall be a member, or beneficiary of such member, who retired with at least 20 years of creditable service under RSA 100-A:5, II, or member, or beneficiary of such member, who retired under RSA 100-A:6, II.
   II. The one-time supplemental retirement allowance payable to the member shall be the percentage of the member's annual retirement allowance as follows:
      (a) Annual retirement allowance less than $9,300, the applicable percentage to reach a $10,000 annual retirement allowance;
      (b) Annual retirement allowance greater than or equal to $9,300 and less than $11,700, 7 1/2 percent;
      (c) Annual retirement allowance greater than or equal to $11,700 and less than $13,700, 5 1/2 percent;
      (d) Annual retirement allowance greater than or equal to $13,700 and less than $15,700, 4 percent;
      (e) Annual retirement allowance greater than or equal to $15,700 and less than or equal to $17,700, 3 percent.
   III. The one-time supplemental retirement allowance payable to each beneficiary of the member shall be determined as described in paragraph II except the specified amounts of $9,300, $10,000, $11,700, $13,700, $15,700, and $17,700 shall be multiplied by the ratio of the beneficiary's annual retirement allowance to the member's annual retirement. The provisions of this section shall not apply to a group II member who has retired on a reduced or vested deferred retirement allowance. The additional allowance shall become a permanent addition to each member or beneficiary's base retirement allowance, as provided in RSA 100-A:41-a.

Source. 2000, 120:4, eff. May 8, 2000.