NH HB1439

Replaces full pension suspension with proportional annuity reductions for retired NH Retirement System members who exceed the annual part-time employment hour limit, with reductions based on excess earnings spread over 12 monthly payments

Full suspension of retirement benefits may only occur if a retiree knowingly and willfully engaged in substantial violations of the hourly limit or failed to respond in good faith to retirement system inquiries about hours worked

Retirees may demonstrate just cause for exceeding hour limits, including reliance on inaccurate employer time or wage reporting, and the board may waive all or part of the annuity reduction if the retiree acted in good faith

Takes effect 60 days after passage

Fiscal impact is indeterminable but may result in decreased revenue to the Internal Service Fund and increased state and political subdivision expenditures in FY 2028 and beyond