New Hampshire Revised Statutes 103:14-d – Supplementary Cost of Living Allowances; Municipal Police
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Terms Used In New Hampshire Revised Statutes 103:14-d
- 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
- month: shall mean a calendar month, and the word "year" a calendar year, unless otherwise expressed; and the word "year" shall be equivalent to the expression "year of our Lord. See New Hampshire Revised Statutes 21:8
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
Any municipal police beneficiary who retired between July 1, 1961 and January 1, 1968 and who is in receipt of a retirement allowance on January 1, 1974 shall, beginning with the month of January, 1974 and monthly thereafter, but not beyond the month of December, 1974, have his allowance increased by 11 percent. If the beneficiary of a retired member who retired after July 1, 1961 and elected an option providing for a survivor annuity is in receipt of such survivor annuity on January 1, 1974, the beneficiary shall be paid beginning with the month of January, 1974 and monthly thereafter, but not beyond the month of December, 1974, an increased retirement allowance which shall be the same proportion of the increased retirement allowance the member would have been entitled to receive, if any, prior to any optional modification, had he been living on January 1, 1974, as the survivor annuity bears to the full allowance prior to optional modification by such former retired member at retirement. When the increased retirement allowance of any one beneficiary shall be ascertained under the terms of the above-mentioned provisions, the difference between said increased retirement allowance and the retirement allowance said beneficiary is then receiving as of December 31, 1973 shall be multiplied by 2 and the said sum shall be paid to said beneficiary in 12 monthly installments during the period from January 1, 1974 to December 31, 1974. Nothing herein shall be construed as affecting the regular retirement allowance of any beneficiary, or any other supplementary allowance of any beneficiary. The payment of the additional retirement allowance payable hereunder shall be contingent on the payment by the state of the additional amounts required to meet the current disbursements of such additional retirement allowances.