relative to average final compensation for certain group II members.

This bill modifies how the New Hampshire Retirement System calculates average final compensation for specific Group II members who started service before July 1, 2011, and were not yet vested by January 1, 2012. Under the new rules, the calculation would cap the portion of extra pay included in the formula based on the average excess compensation earned during the member's last seven years of service, rather than their entire career history. The legislation is designed to adjust pension benefits for these particular employees without changing the state's overall funding requirements for the current fiscal year. A committee review in 2024 ultimately recommended against moving forward with this proposal.