NH SB601

State will pay 7.5 percent of retirement system contributions for non-state employers (municipalities and school districts) for Group I teachers and Group II members, with those employers paying the remaining 92.5 percent

Department of Revenue Administration will hold the state's share of contributions for municipalities before passing funds to municipalities for revenue calculation purposes

Commissioner of Revenue Administration will first credit the state's share to the education trust fund as state tax revenue, then disburse amounts to the retirement system on a quarterly basis or other jointly determined schedule

Transferred sums will be treated as part of the state's general revenue distributions for accounting and municipal reimbursement purposes

Effective date is July 1, 2026