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Q1.
What is the State Teacher Retirement System?
A1. The New
Hampshire Retirement System is a public employee pension plan. It is a
defined benefit plan, which offers retired public workers a fixed-amount
as an annual, lifetime benefit. Both employer and employee must make
contributions. Should the employee leave the state’s teacher retirement
system, he or she may withdraw personal contributions.
Q2.
Are public charter school employees eligible to participate in the State
Teacher Retirement system?
A2. According
to New Hampshire charter school statute,
RSA 194-B:14, XV,
participation is an option available to the charter school’s Board of
Trustees.
“A charter school
may choose to participate in the state teacher retirement system, and
service in a charter school shall be deemed creditable service under RSA
100-A:4.”
Q3.
If the chartered public school elects to participate in State Teacher
Retirement, must all teachers participate?
A3.
Yes. If the Board of Trustees chooses to participate, then all
full-time teachers must be enrolled in the New Hampshire Retirement
System.
Q4.
How many hours per week must employees work in order to be eligible for
the NH Retirement System?
A4. Generally,
certified staff must work a minimum of 30 hours per week. Support staff
must work a minimum of 35 hours per week. Exceptions may be made for
paraprofessional staff. According
to the New Hampshire Retirement System, the charter school law does not
provide for membership of support or paraprofessional staff.
Q5.
How does a public charter school enroll in the State Retirement System?
A5. The Board of
Trustees may elect to enroll the public charter school in the
Retirement System. The required application form (NHRS Elect) is
available at
http://www.nh.gov/retirement/employers/nhrselect.pdf
Q6.
Is there a specific date by which the chartered public school
must file the NHRS Elect form?
A6. Yes.
We are advised that there are no hard deadlines for applying for
membership in the New Hampshire Retirement System; however, the
application form should reach the NH Retirement System office by
August 15 for an effective date of October 1.
Q7.
How much are employers required to contribute?
A7.
Effective July 1, 2003, the charter school employer contribution rate
is 2.64% of employee gross monthly earnings (the state also
contributes). Teachers contribute 5.00% of their pay.
Q8.
Are contributions to the NH Retirement System tax deferred?
A8. Tax deferment is
an optional feature. If the Board of Trustees wishes to elect this
feature for employees of the school, the Board must submit a Tax Shelter
Election Form.
http://www.nh.gov/retirement/employers/forms/nhrs13.pdf
Q9. Where can
chartered public schools obtain more information about the New Hampshire
Retirement System?
A9. Information is available at the
state’s public retirement program website:
http://www.state.nh.us/retirement. You may also call (603)
271-3351, extension 266.
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