New Hampshire Revised Statutes 100-C:5 – Service Retirement Benefits
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I. Any member who has at least 15 years of creditable service and is at least 60 years of age, or who has at least 10 years of creditable service and is at least 65 years of age, or who has at least 7 years of service and is 70 years of age may retire on a service retirement allowance or a reduced service retirement allowance, upon written application to the board setting forth on what date, not less than 30 days nor more than 90 days subsequent to the filing of the application, the member desires to be retired. During such period of notification, the member may have separated from service.
II. A member who is at least 65 years of age with 10 years of creditable service may retire on a service retirement allowance equal to 75 percent of the member’s final year’s salary.
III. A member who is 70 years of age with 7 years of creditable service may retire on a service retirement allowance equal to 45 percent of the member’s final year’s salary. A member who is 70 years of age shall be granted an additional 10 percent over the 45 percent level for each year of creditable service the member has over 7 years.
IV. A member who is at least 60 years of age with at least 15 years of service may retire on a service retirement allowance equal to 70 percent of the member’s final year’s salary. A member who has at least 15 years of service and is at least 60 years of age shall be granted an additional percent over the 70 percent level for each year of continued service over 15 years.
V. Under no circumstance shall any service retirement allowance pursuant to this section exceed 75 percent of the member’s final year’s salary.
VI. Any member attaining eligibility for 75 percent of the member’s final year’s salary shall not be required to make employee contributions to the plan pursuant to N.H. Rev. Stat. § 100-C:14.
VII. A member who has a minimum of 5 years of creditable service and who is not eligible for a retirement service allowance under this section may retire without a retirement service allowance at any time. Election to retire under this section shall terminate the judge’s membership in the judicial retirement plan and shall irrevocably extinguish the judge’s rights under N.H. Rev. Stat. § 491-A:1 and under N.H. Rev. Stat. § 100-C:6 and N.H. Rev. Stat. § 100-C:7. Election to retire under this section shall entitle the judge to payment of his or her accumulated contributions to the member annuity savings fund, together with any interest that may have accrued at rates determined by the board of trustees.
II. A member who is at least 65 years of age with 10 years of creditable service may retire on a service retirement allowance equal to 75 percent of the member’s final year’s salary.
Terms Used In New Hampshire Revised Statutes 100-C:5
- 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.
- board: means the board provided for in N. See New Hampshire Revised Statutes 100-C:1
- Board of trustees: or "board" means the board provided for in N. See New Hampshire Revised Statutes 100-C:1
- Creditable service: means prior service plus membership service, as provided in N. 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
- 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. A member who is 70 years of age with 7 years of creditable service may retire on a service retirement allowance equal to 45 percent of the member’s final year’s salary. A member who is 70 years of age shall be granted an additional 10 percent over the 45 percent level for each year of creditable service the member has over 7 years.
IV. A member who is at least 60 years of age with at least 15 years of service may retire on a service retirement allowance equal to 70 percent of the member’s final year’s salary. A member who has at least 15 years of service and is at least 60 years of age shall be granted an additional percent over the 70 percent level for each year of continued service over 15 years.
V. Under no circumstance shall any service retirement allowance pursuant to this section exceed 75 percent of the member’s final year’s salary.
VI. Any member attaining eligibility for 75 percent of the member’s final year’s salary shall not be required to make employee contributions to the plan pursuant to N.H. Rev. Stat. § 100-C:14.
VII. A member who has a minimum of 5 years of creditable service and who is not eligible for a retirement service allowance under this section may retire without a retirement service allowance at any time. Election to retire under this section shall terminate the judge’s membership in the judicial retirement plan and shall irrevocably extinguish the judge’s rights under N.H. Rev. Stat. § 491-A:1 and under N.H. Rev. Stat. § 100-C:6 and N.H. Rev. Stat. § 100-C:7. Election to retire under this section shall entitle the judge to payment of his or her accumulated contributions to the member annuity savings fund, together with any interest that may have accrued at rates determined by the board of trustees.