COLA
July 2010
To the Members of the New Hampshire Retired State Troopers Association,
I am very pleased to inform you of the details of the recently enacted legislation that provides for Cost of Living Adjustments and other Supplemental Payments for eligible retirees or their eligible beneficiaries commencing July 2010.
While it was not widely publicized, let there be no question that it was the New Hampshire Retired State Troopers Association alone through the efforts of the Legislative Committee that worked tirelessly to secure these benefits. Day in and day out it was the NHRSTA that maintained a presence in the halls of the legislature during this past session looking out for the best interests of our membership. Despite legislative rumblings and indications that any attempt to secure a Cost of Living Adjustment would be futile, the NHRSTA-Legislative Committee stayed the course. I am convinced that it was the vigilance of the NHRSTA that was the determining factor of our success. As a result eligible members of the New Hampshire Retirement System will receive a cost of living adjustment and other supplemental payments courtesy of the leadership displayed by the NHRSTA. We should all be justifiably proud, and we thank the Legislative Committee for their commitment and perseverance.
I hope that you all have an enjoyable summer. I look forward to seeing you at the fall dinner meeting, the date to be announced.
Sincerely,
David W. Kelley
Chairman
Cost of Living Adjustments and Other Supplemental Payments For Eligible Retired Members
Recently enacted legislation provides for a cost-of-living adjustment (COLA) and other supplemental payments for eligible retirees, or their eligible beneficiaries, as described below.
Cost-of-Living Adjustment (COLA)
To be added to the retirement pension beginning with the pension payment for July 2010
Retirees who have been retired on July 1, 2010 for at least 12 months will receive a 1.5% increase on the first $30,000 of their annual pension. The COLA will be calculated retroactive to the retiree's most recent anniversary date of retirement. This increase will become a permanent addition to their retirement pension.
One-Time Supplemental Payments
To be issued in a separate check in addition to the pension payment for July 2010
Similarly, retirees who had at least 15 years of creditable service at the time of retirement, whose annual pensions equal $20,000 or less as of their latest retirement anniversary date, and who have been retired for at least 12 months, will receive a one-time payment of $1,000. In addition, retirees who retired before January 1, 1993, will receive a one-time payment of $500.
Supplemental Allowances for Eligible Medical Subsidy Recipients
To be issued in a separate check in addition to the pension payment for July 2010
State employees who retired from state service are not eligible for the supplemental payments related to the medical subsidy.
Questions about COLAs and other supplemental allowances should be directed to a representative of the New Hampshire Retirement System by calling (603) 410-3619 or toll-free at (877) 600-0158, extension 3619.