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Committee hears multiple retirement bills: COLAs, benefit calculations, part-time limits and data fixes
Summary
The House committee heard several measures affecting New Hampshire retirees, including a proposed supplemental COLA for long-retired public safety members (HB 11-70), technical changes to benefit calculations (HB 14-71), remedies for retirees penalized over part-time hours (HB 14-39 and HB 14-59), an exception to the 28-day waiting period for concurrent part-time work (HB 10-14), and other administrative proposals. The committee requested multiple fiscal notes and asked the New Hampshire Retirement System for follow-up.
On Jan. 14 the Executive Departments and Administration Committee heard a slate of retirement-related bills that ranged from cost-of-living stipends to technical clarifications of pension formulas and administrative fixes for retirees.
Supplemental COLA (HB 11-70): Arthur Beaudry, president of the New Hampshire State Permanent Firefighters Retirement Association and a former NHRS trustee, spoke in favor of HB 11-70, which would provide supplemental stipends to long-retired members funded by the state general fund. Beaudry told the committee that CPI-U increases over decades have eroded retirees' buying power and that group 2 public safety retirees were particularly affected. "Granting a reasonable COLA to group 2 retirees will greatly reduce the impact inflation has incurred on them over the last 20 years,"…
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