New Hampshire § 100-A-11 - Section 100-A:11 Return of Members' Contributions.

§ 100-A-11. Section 100-A:11 Return of Members' Contributions.

I. Group I Members. (a) If a group I member ceases to be an employee or teacher for reasons other than retirement or death and if he or she has not elected to receive a vested deferred retirement allowance under RSA 100-A:10, the amount of his or her accumulated contributions shall be paid within 3 months after his or her written request therefor, provided that the member may not file a written request for such payment until at least 30 days from the date the member ceases to be an employee or a teacher and provided that the member may not again become a group I member during said 30-day period. A group I member shall cease to be an active member if he or she is absent from service for more than 180 days, without requesting return of the amount of his or her accumulated contributions, and the retirement system shall retain his or her accumulated contributions. The annual return credited on inactive, vested members shall be paid pursuant to RSA 100-A:16, II(g). The board shall hold and invest such accumulated contributions on behalf of the inactive member, provided that the annual return credited on the inactive member's accumulated contributions shall be 2 percentage points less than either the assumed rate of return or the actual rate of return, whichever is lower, for the immediately preceding fiscal year as reported in the annual comprehensive financial report (ACFR), provided the rate of return shall not be less than zero. The inactive member may make a written request for his or her total accumulated contributions, provided he or she is not on a leave of absence, and he or she shall be paid within 3 months after his or her written request. In the event an inactive member who has not withdrawn his or her contributions under this section returns to become an active member in service, his or her previous service shall count toward that member's creditable service to the extent that his or her accumulated contributions have remained in the retirement system. (b) Upon the death of a group I member in service as a result of causes other than those which meet the requirements for an accidental death benefit as set forth in RSA 100-A:8 and if, at the time of his death, he is not eligible for service retirement or, being so eligible, is not survived by a widow, or has designated a beneficiary or beneficiaries other than his widow, the amount of his accumulated contributions shall be paid to the person or persons nominated by him, if living, otherwise to the member's estate. Upon the death of a group I member in service under circumstances which meet the requirements for an accidental death benefit as set forth in RSA 100-A:8, the amount of his accumulated contributions shall be paid to the person or persons nominated by the member, if living, otherwise to the member's estate. (c) Upon the death of a group I member who has elected, pursuant to RSA 100-A:10, to receive a vested deferred retirement allowance before his attainment of age 60, the amount of his accumulated contributions at the time of his death shall be paid to the person or persons, if any, nominated by him, if living, otherwise to the member's estate. (d) Upon the death of a retired group I member after his retirement allowance payments have commenced, provided he has not elected an optional allowance that has become effective, any excess of the amount of his accumulated contributions at retirement over the sum of the retirement allowance payments received shall be paid in one sum to the person or persons nominated by the member, if living, otherwise to the member's estate. Upon the death of the survivor of a retired group I member and the beneficiary nominated by him under the terms of an option, if an option was elected and had become effective, any excess of the retired member's accumulated contributions at retirement over the sum of the retirement allowance payments received by the retired member and such beneficiary shall be paid to the person nominated by the member, if living, otherwise to the estate of the last to survive of the member and such beneficiary. Nomination of a person to receive the return of the member's contributions pursuant to this section shall be made by the member in writing filed with the board of trustees. A member may change his nomination by a similar writing. A designation, revocation or change of the person nominated under an optional election may be made only as provided in RSA 100-A:13. II. Group II Members. (a) If a group II member ceases to be a permanent policeman or permanent fireman for reasons other than retirement or death and if he or she has not elected to receive a vested deferred retirement allowance under RSA 100-A:10, the amount of his or her accumulated contributions shall be paid within 3 months after his or her written request therefor. A group II member shall cease to be an active member if he or she is absent from service for more than 180 days, without requesting return of the amount of his or her accumulated contributions, and the retirement system shall retain his or her accumulated contributions. The annual return credited on inactive, vested members shall be paid pursuant to RSA 100-A:16, II(g). The board shall hold and invest such accumulated contributions on behalf of the inactive member, provided that the annual return credited on the inactive member's accumulated contributions shall be 2 percentage points less than either the assumed rate of return or the actual rate of return, whichever is lower, for the immediately preceding fiscal year as reported in the annual comprehensive financial report (ACFR), provided the rate of return shall not be less than zero. The inactive member may make a written request for his or her total accumulated contributions, provided he or she is not on a leave of absence, and he or she shall be paid within 3 months after his or her written request. In the event an inactive member who has not withdrawn his or her contributions under this section returns to become an active member in service, his or her previous service shall count toward that member's creditable service to the extent that his or her accumulated contributions have remained in the retirement system. (b) Upon the death of a group II member in service as a result of causes other than those which meet the requirements for an accidental death benefit as set forth in RSA 100-A:8 and if, at the time of his death, he is not eligible for service retirement or, being so eligible, is not survived by a widow, or has designated a beneficiary or beneficiaries other than his widow, the amount of his accumulated contributions shall be paid to the person or persons nominated by him, if living, otherwise to the member's estate. Upon the death of a group II member in service under circumstances which meet the requirements for an accidental death benefit as set forth in RSA 100-A:8, the amount of his accumulated contributions shall be paid to the person or persons nominated by the member, if living, otherwise to the member's estate. (c) Upon the death of a group II member who has elected, pursuant to RSA 100-A:10, to receive a vested deferred retirement allowance before his retirement allowance commences, the amount of his accumulated contributions at the time of his death shall be paid to the person or persons, if any, nominated by him, if living, otherwise to the member's estate. (d) Upon the death of the survivor of a retired group II member who is in receipt of an accidental disability retirement allowance pursuant to RSA 100-A:6 and his widow in receipt of an allowance pursuant to RSA 100-A:12, any excess of the retired member's accumulated contributions at retirement over the sum of the retirement allowance payments received by such retired member and his widow shall be paid to the person nominated by the member, if living, otherwise to the estate of the last to survive of the retired member and such widow. (e) Upon the death of a retired group II member after his retirement allowance payments have commenced, provided he has not elected an optional allowance that has become effective, any excess of the amount of his accumulated contributions at retirement over the sum of the retirement allowance payments received shall be paid in one sum to the person or persons nominated by the member, if living, otherwise to the member's estate. Upon the death of the survivor of a retired group II member and the beneficiary nominated by him under the terms of an option, if an option was elected and had become effective, any excess of the retired member's accumulated contributions at retirement over the sum of the retirement allowance payments received by the retired member and such beneficiary shall be paid to the person nominated by the member, if living, otherwise to the estate of the last to survive of the member and such beneficiary. Nomination of a person to receive the return of the member's contributions pursuant to this section shall be made by the member in writing filed with the board of trustees. A member may change his nomination by a similar writing. A designation, revocation or change of the person nominated under an optional election may be made only as provided in RSA 100-A:13.