|
URGENT
NEWS FOR
NH
RETIREMENT SYSTEM PARTICIPANTS
DECEMBER
30, 2004 - Deadline approaching
The NH
Legislature has changed the law and your ability as a member of
the NH Retirement System (NHRS) to make additional contributions
to NHRS UNLESS you apply to do so on or
before December 30, 2004. These contributions are used in one or
two ways to allow members to build a second annuity for the purpose
of:
- Offsetting the Group I Early Service Retirement Reduction,
or
- Building a higher pension - this option is only for members
who will reach age 60, but will not have 30 years in Group I
or 20 years in Group II.
If you
are a teacher or other public employee working 35 hours per week
or more you are a member of Group I and if you are a police officer
or firefighter, you are a member of Group II. Unfortunately to date,
paraprofessionals working 32 hours per week have not been able to
access the retirement system since it is not mandatory and is an
option that must be negotiated with the local school board.
Retirement
planning is a personal issue and NHFT wants to alert all of its
members to this change so you may have all options before you whether
or not you are retiring this year or ten years from now. Please
take a few moments to consider the impact this change may have on
your retirement planning.
You must
preserve this option NOW by completing the necessary
forms which can be downloaded from the NHRS web site. Your local
President has been provided with a packet of information regarding
these changes to answer your initial questions. We do advise you
to maintain copies and proof of receipt of your application by NHRS.
This agency will no doubt be inundated with applications as the
deadline approaches. Applications will not be accepted after
December 30 th . We further advise you to contact the NH
Retirement System directly with your specific questions as it relates
to completing the application. The NHRS phone number is (603) 271-3351
or toll free at 1-877-917-6477.
You are encouraged to
visit the NH Retirement System website at the following address:
http://www.state.nh.us/retirement/breakingnews/
and visit the additional
contributions link . The NHRS has provided an interactive
presentation which you can view to explain these changes.
Click here for the application
form: http://www.nh.gov/retirement/employers/forms/cnhrs40.pdf
You can also reach the
NHRS link by visiting the NHFT website at www.nhft.org
|
