New Hampshire Revised Statutes 100-C:14 – Member Contributions
Current as of: 2023 | Check for updates
|
Other versions
I. All member contributions to the judicial retirement plan shall be payable only with respect to membership service, and picked up by the state by means of payroll deduction and shall be treated as employer contributions for purposes of Section 414(h) of the Internal Revenue Code of 1986, as amended. The member contribution rate shall be fixed biennially by the board of trustees and shall be calculated so that the rate percent of earnable compensation deducted is one-half of the annual contribution requirements of the judicial retirement plan as determined in N.H. Rev. Stat. § 100-C:13, I. In no year shall the member contribution rate exceed 10 percent of a member’s earnable compensation. Once a member attains eligibility for a service retirement allowance equal to 75 percent of the member’s final year’s salary pursuant to N.H. Rev. Stat. § 100-C:5, said member shall not be required to have deductions made from earnable compensation for purposes of this section provided that the state contributions for such member under N.H. Rev. Stat. § 100-C:13, IV shall continue until the member’s retirement.
II. Any judge who is appointed at an age such that he or she will never become entitled to receive a retirement benefit under N.H. Rev. Stat. § 100-C:5 may, but shall not be required to, become a member of the judicial retirement plan. Any such judge electing to become a member shall pay employee contributions to the plan, shall be eligible for disability retirement benefits under N.H. Rev. Stat. § 100-C:6 and death benefits under N.H. Rev. Stat. § 100-C:7, and shall be entitled to the return of his or her contributions to the plan in accordance with N.H. Rev. Stat. § 100-C:8. The state shall not pay employer contributions to the plan for any such judge not electing to become a member of the plan.
II. Any judge who is appointed at an age such that he or she will never become entitled to receive a retirement benefit under N.H. Rev. Stat. § 100-C:5 may, but shall not be required to, become a member of the judicial retirement plan. Any such judge electing to become a member shall pay employee contributions to the plan, shall be eligible for disability retirement benefits under N.H. Rev. Stat. § 100-C:6 and death benefits under N.H. Rev. Stat. § 100-C:7, and shall be entitled to the return of his or her contributions to the plan in accordance with N.H. Rev. Stat. § 100-C:8. The state shall not pay employer contributions to the plan for any such judge not electing to become a member of the plan.
Terms Used In New Hampshire Revised Statutes 100-C:14
- biennially: when applied to meetings and elections in towns, shall mean the biennial meetings and elections required by law to be holden in the month of November biennially, dating from the commencement of biennial elections in 1878; and the word "annual" when applied to meetings and elections in towns, shall mean the annual meetings and elections required by law to be holden in the month of March. See New Hampshire Revised Statutes 21:7
- board: means the board provided for in N. See New Hampshire Revised Statutes 100-C:1
- Earnable compensation: means a member's annual salary. See New Hampshire Revised Statutes 100-C:1
- Judicial retirement plan: or "plan" means the New Hampshire judicial retirement plan as defined in N. See New Hampshire Revised Statutes 100-C:1
- Member: means any full-time supreme court, superior court, or circuit court judge. See New Hampshire Revised Statutes 100-C:1
- Membership service: means service rendered while a member of the judicial retirement plan. See New Hampshire Revised Statutes 100-C:1
- plan: means the New Hampshire judicial retirement plan as defined in N. See New Hampshire Revised Statutes 100-C:1
- Retirement: means withdrawal from active service with a retirement allowance granted under the provisions of this chapter. See New Hampshire Revised Statutes 100-C:1
- Retirement allowance: means the sum of the member annuity and the state annuity. See New Hampshire Revised Statutes 100-C:1
- Service: means service as a supreme court, superior court, full-time district court, or full-time probate court justice. See New Hampshire Revised Statutes 100-C:1
- State: means the state of New Hampshire. See New Hampshire Revised Statutes 100-C:1