New Hampshire Revised Statutes 100-C:8 – Return of Members’ Contributions
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I. If a member ceases to be a judge for reasons other than retirement or death, the amount of such member’s accumulated contributions shall be paid to such member within 3 months after such member’s written request therefor, provided that the member may not file a written request for such payment until at least 30 days from the date the member ceases to be a judge. Upon the refund of such contributions all rights of the member, any beneficiary, and any survivor of the member under this chapter shall terminate.
II. Upon the death of a member in service who does not have a surviving spouse or dependent children, the amount of the member’s accumulated contributions shall be paid to any beneficiary or beneficiaries nominated by the member, if living, or otherwise to the member’s estate.
III. Upon the death of a member who does not have a surviving spouse or dependent children, after retirement allowance payments have commenced, any excess amount of the member’s accumulated contributions at retirement over the sum of the retirement allowance payments received shall be paid in one sum to the beneficiary or beneficiaries nominated by the member, if living, otherwise to the member’s estate.
IV. The return of a member’s contributions shall include accrued interest at such rates as the board of trustees may from time to time determine in its discretion.
V. A distributee may elect, in a time and manner prescribed in rules of the board, to have any portion of an eligible rollover distribution paid directly to an eligible retirement plan specified by the distributee in a direct rollover. For purposes of this paragraph:
(a) “Distributee” means a member or former member, or spouse of a member or former member.
(b) “Eligible retirement plan” means an individual retirement account described in section 408(a) of the Internal Revenue Code, an individual retirement annuity described in section 408(b) of the Internal Revenue Code, an annuity plan described in section 403(a) of the Internal Revenue Code, a qualified trust described in section 401(a) of the Internal Revenue Code, or an eligible 457(b) deferred compensation plan maintained by an eligible employer, that accepts the distributee’s eligible rollover distribution.
(c) “Eligible rollover distribution” means any distribution of all or any portion of the balance to the credit of the distributee, except that an eligible rollover distribution shall not include any distribution that is one of a series of substantially equal periodic payments, not less frequently than annually, made for the life, or life expectancy, of the distributee or the joint lives, or joint life expectancies, of the distributee and the distributee’s designated beneficiary, or for a specified period of 10 years or more; any distribution to the extent such distribution is required under section 401(a)(9) of the Internal Revenue Code; and any distribution which is made upon hardship of the distributee.
II. Upon the death of a member in service who does not have a surviving spouse or dependent children, the amount of the member’s accumulated contributions shall be paid to any beneficiary or beneficiaries nominated by the member, if living, or otherwise to the member’s estate.
Terms Used In New Hampshire Revised Statutes 100-C:8
- Accumulated contributions: means the sum of all the amounts deducted from the compensation of a member. See New Hampshire Revised Statutes 100-C: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.
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Beneficiary: means any person receiving a retirement allowance or other benefit as provided in this chapter. See New Hampshire Revised Statutes 100-C:1
- board: means the board provided for in N. See New Hampshire Revised Statutes 100-C:1
- Dependent: A person dependent for support upon another.
- Member: means any full-time supreme court, superior court, or circuit court judge. 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
III. Upon the death of a member who does not have a surviving spouse or dependent children, after retirement allowance payments have commenced, any excess amount of the member’s accumulated contributions at retirement over the sum of the retirement allowance payments received shall be paid in one sum to the beneficiary or beneficiaries nominated by the member, if living, otherwise to the member’s estate.
IV. The return of a member’s contributions shall include accrued interest at such rates as the board of trustees may from time to time determine in its discretion.
V. A distributee may elect, in a time and manner prescribed in rules of the board, to have any portion of an eligible rollover distribution paid directly to an eligible retirement plan specified by the distributee in a direct rollover. For purposes of this paragraph:
(a) “Distributee” means a member or former member, or spouse of a member or former member.
(b) “Eligible retirement plan” means an individual retirement account described in section 408(a) of the Internal Revenue Code, an individual retirement annuity described in section 408(b) of the Internal Revenue Code, an annuity plan described in section 403(a) of the Internal Revenue Code, a qualified trust described in section 401(a) of the Internal Revenue Code, or an eligible 457(b) deferred compensation plan maintained by an eligible employer, that accepts the distributee’s eligible rollover distribution.
(c) “Eligible rollover distribution” means any distribution of all or any portion of the balance to the credit of the distributee, except that an eligible rollover distribution shall not include any distribution that is one of a series of substantially equal periodic payments, not less frequently than annually, made for the life, or life expectancy, of the distributee or the joint lives, or joint life expectancies, of the distributee and the distributee’s designated beneficiary, or for a specified period of 10 years or more; any distribution to the extent such distribution is required under section 401(a)(9) of the Internal Revenue Code; and any distribution which is made upon hardship of the distributee.