I. Should a majority of the members of any local retirement system elect to become members of the retirement system, by a petition duly signed by such members, and should their employer elect to have them participate by resolution legally adopted in form approved by the board of trustees of the retirement system, such employees shall participate in the retirement system as though such local retirement system were not in operation. The retirement allowances being paid by the local retirement system on the date such participation in the retirement system becomes effective shall be continued and paid at their existing rates by the retirement system and the liability on this account shall be included in the computation of the accrued liability contribution payable by the employer as provided by N.H. Rev. Stat. § 100-A:24. Any cash and securities to the credit of the local retirement system shall be transferred to the retirement system as of the date participation begins. The trustees or other administrative head of the local retirement system as of the date of participation shall certify the proportion of any of the funds of the local retirement system that represents the accumulated contributions of the members and the relative shares of the members as of that date. Such shares shall be credited to the respective annuity savings account of such members in the retirement system as additional contributions. The balance of the funds transferred to the retirement system shall be offset against the accrued liability before determining the special accrued liability contribution to be paid by the employer as provided by N.H. Rev. Stat. § 100-A:24. The operation of the local retirement system shall be discontinued as of the date participation becomes effective in the retirement system.
II. Any members of any local retirement system who, pursuant to the provisions of N.H. Rev. Stat. § 100:33 of the employees’ retirement system of the state of New Hampshire, elected to become members of said system and who, pursuant to the terms of N.H. Rev. Stat. § 100-A:3, elect to become members of the retirement system as of January 1, 1968 or July 1, 1968, shall have the shares credited to their account in the employee annuity savings fund and the state annuity accumulation fund of said employees’ retirement system transferred to the member annuity savings fund and the state annuity accumulation fund of the retirement system respectively in accordance with the provisions of N.H. Rev. Stat. § 100-A:16. The employer of those members who so elect shall become an employer for purposes of the retirement system and thereafter all contributions on behalf of such members shall be made by such employer and member to the retirement system.

Terms Used In New Hampshire Revised Statutes 100-A:21

  • Accumulated contributions: shall mean the sum of all the amounts deducted from the compensation of a member, any additional contributions, any contributions for purchases under this chapter, together with any amount transferred to the account of the member established pursuant to this system from the respective account of said member under one or more of the predecessor systems, with interest thereon, as provided in N. See New Hampshire Revised Statutes 100-A:1
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • board: shall mean the board provided for in N. See New Hampshire Revised Statutes 100-A:1
  • Employee: shall mean any regular classified, nonclassified, or unclassified officer or employee of the state or any department, commission, institution or agency of the state government by which an employee is paid through the office of the state treasurer, or employees of the general court who work on a full-time basis and are eligible for other state benefits, but whose salary is calculated on a per diem basis, or any employee of the retirement system, or any full-time employee of the community college system of New Hampshire who is an active retirement system member or who elects membership in the retirement system, or of any of the groups authorized to participate under this chapter but excluding any person who is a teacher, permanent policeman, or permanent fireman as defined in this section, or who is a member or attache of the general court or member of the executive council. See New Hampshire Revised Statutes 100-A:1
  • Employer: shall mean (a) the state or any department, commission, institution, or agency of the state government by which an employee is paid through the office of the state treasurer with respect to their employees, (b) the state, the local school district, or other employers of teachers eligible for membership in the system with respect to the teachers in their employ, (c) any police department or police force of the state, or of any county, city, town, village, or precinct in the state with respect to the permanent policemen in their employ, (d) any fire department of the state, or of any county, city, town, village, or precinct in the state with respect to the permanent firemen in their employ, (e) any political subdivision that has elected to participate under N. See New Hampshire Revised Statutes 100-A:1
  • Member: shall mean any person included in the membership of the retirement system, as provided in N. See New Hampshire Revised Statutes 100-A:1
  • petition: when used in connection with the equity jurisdiction of the superior court, and referring to a document filed with the court, shall mean complaint, and "petitioner" shall mean plaintiff. See New Hampshire Revised Statutes 21:51
  • Retirement: shall mean withdrawal from active service with a retirement allowance granted under the provisions hereof. See New Hampshire Revised Statutes 100-A:1
  • Retirement system: shall mean the New Hampshire Retirement System as defined in N. See New Hampshire Revised Statutes 100-A:1
  • State: shall mean the state of New Hampshire. See New Hampshire Revised Statutes 100-A:1
  • State annuity: shall mean annual payments for life derived from contributions by an employer. See New Hampshire Revised Statutes 100-A:1
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