Vote Smart's Synopsis:

Vote to adopt an amendment to SSHB1 that requires the university system to pay debt service costs, bases the state's payment toward premiums for the retiree medical benefits on their income, and increases member contributions to the state retirement system.

Highlights:

-Repeals the $20,748,880 in estimated revenue from the Debt Service for other agencies, which shall instead be paid by the university system of New Hampshire, and which will be used to pay debt service costs for general obligation bonds issued by the state (Sec. 42 & 43). -Requires the state to pay a premium or portion of a premium for spouses and dependents of retired state employees under 65 years of age as follows (Sec. 119):

-If total annual state retirement annuity income is $12,000 or less, the state shall pay 100 percent of the premium; -For the fiscal year ending June 30, 2011 only, if total annual state retirement annuity income is greater than $12,000 and less than $18,000, the commissioner of the department of administrative services shall develop a scale representing the percent of the premium greater than 50 percent but less than 100 percent that the state shall pay that is proportional to the total state retirement annuity income and the retiree health benefit; -On July 1, 2011 and thereafter, if total annual state retirement annuity income is greater than $12,000 and $18,000 or less, the state shall pay 50 percent of the premium; -If total annual state retirement annuity income is greater than $18,000, the state shall pay no premium.

-Requires the state to pay a premium or a portion of a premium for spouses and dependents of retired state employees 65 years of age or older under paragraph I as follows (Sec. 119):

-If total annual state retirement annuity income is $12,000 or less, the state shall pay 100 percent of the premium; -For the fiscal year ending June 30, 2011 only, if total annual state retirement annuity income is greater than $12,000 and less than $18,000, the commissioner of the department of administrative services shall develop a scale representing the percent of the premium greater than 50 percent but less than 100 percent that the state shall pay that is proportional to the total state retirement annuity income and the retiree health benefit; -On July 1, 2011, and thereafter, if total annual state retirement annuity income is greater than $12,000 and $18,000 or less, the state shall pay 75 percent of the premium; -If total annual state retirement annuity income is greater than $18,000, the state shall pay 50 percent of the premium.

-Specifies that the amount of premium paid by the state shall be reduced by 2 percent per year for each year that a member's service is less than 30 years for group I retirees and 2.5 percent for each year that a member's service is less than 20 years for group II retirees (Sec. 119). -Specifies that member contributions to the New Hampshire Retirement System shall be the following percentages of their earnable compensation in fiscal year 2011(Sec. 121):

-7% for employees and teachers; and -11% for Permanent policemen and firemen.

-Specifies that member contributions to the New Hampshire Retirement System shall be the following percentages for their earnable compensation in fiscal year 2012 (Sec. 122):

-5% for employees of employers other than the state; -5% for employees of the state hired on or before June 30, 2009; -7% for employees of the state hired after June 30, 2009; -5% for teachers; and -9.3% for permanent policemen and firemen.

Full Bill Text