New Hampshire Code of Administrative Rules
Ret - Board of Trustees of the N.H. Retirement System
Chapter Ret 300 - PARTICIPATION IN THE RETIREMENT SYSTEM
Part Ret 310 - CALCULATION OF COMPENSATION FOR DETERMINATION OF BENEFITS
Section Ret 310.01 - Definitions

Universal Citation: NH Admin Rules Ret 310.01

Current through Register No. 40, October 3, 2024

The following words and phrases as used in this part shall have the following meanings unless a different meaning is plainly required by the context:

(a) "Average final compensation" means:

(1) For members who have attained vested status prior to January 1, 2012, the average annual earnable compensation of a member during his highest 3 years of creditable service, or during all of the years in his creditable service if less than 3 years, subject to the limitation on compensation for extra and special duty pay as provided in RSA 100-A:1, XVIII(a); and

(2) For members who have not attained vested status prior to January 1, 2012, the average annual earnable compensation of a member during his highest 5 years of creditable service, or during all of the years in his creditable service if less than 5 years, subject to the limitation on compensation paid in excess of the full base rate of compensation as provided in RSA 100-A:1, XVIII(b);

(b) "Earnable compensation" means "earnable compensation" as defined in RSA 100-A:1, XVII;

(c) "Earnable compensation cap" means an amount equal to 150% of the higher of the member's earnable compensation in the 12-month period preceding the final 12 months of creditable service or the member's highest compensation year as determined for the purpose of calculating average final compensation but excluding the final 12-months of creditable service; and

(d) "Grandfathered amount" means earnable compensation paid at or after termination of employment which relates to accrued holiday, vacation, sick leave or other credits earned on account of service rendered prior to June 30, 1991 and is documented to the satisfaction of system staff pursuant to Ret 310.03(d) and 1991 Laws, Chapter 313:7.

#5595, eff 3-16-93

New. #7375, INTERIM, eff 10-13-00, EXPIRES: 4-11-01; ss by #7478, eff 4-10-01; ss by #7573, eff 10-10-01, EXPIRED: 10-10-09

New. #9562, eff 10-14-09

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