101-B:1 Definition. – In this chapter, "employee" means any person whether appointed, elected or under contract, providing services for the state, county, city, town or other political subdivision, for which compensation is paid. Source. 1977, 264:20, eff. Aug. 21, 1977.
101-B:2 Commission Established. – I. A deferred compensation commission is hereby established consisting of the following members: (a) The state treasurer or designee; (b) The commissioner of administrative services or designee; (c) The insurance commissioner or designee; (d) The attorney general or designee; (e) The secretary of state, or designee; (f) One member who […]
101-B:3 Administrator of Program. – The commission may contract with an administrator or custodian of deferred compensation plans for the administration of assets accumulated under each employee participant’s account. The commission may also appoint a trustee for the plan. The commission shall appoint the administrator, custodian, or trustee through competitive bidding. The commission shall […]
101-B:4 Duties and Powers of Administrator. – The administrator or custodian appointed pursuant to RSA 101-B:3, shall assist the commission as directed by the commission. He shall maintain a separate account for each employee participant and provide periodic reports of the status of each account to the commission. The administrator or custodian is authorized […]
101-B:5 Investments. – Investment permitted under this plan may include fixed annuities, variable annuities, life insurance, mutual funds, bank accounts, and such other investments as the commission may approve. Such investments shall be underwritten and offered in compliance with applicable federal and state laws and regulations by persons who are duly authorized by the […]
101-B:5-a Contract to Enroll in Program. – The state or any political subdivision may, by contract, agree with any employee or independent contractor thereto, to defer compensation, in whole or in part. Source. 1979, 360:17, eff. Aug. 22, 1979.
101-B:6 Addition to Other Retirement Benefits. – The deferred compensation program established by this chapter shall exist and serve in addition to retirement, pension or benefit systems established by the state, county, city, town or other political subdivision, and no deferral of income under the deferred compensation program shall affect a reduction of any […]
101-B:7 Financial Liability of State, Etc. – The financial liability of the state, county, city, town or other political subdivision under a deferred compensation program shall be limited to the value of the particular fixed or variable life insurance or annuity contract or contracts purchased on behalf of any employee. Source. 1977, 264:20, eff. […]
101-B:8 Cost to the State. – The deferred compensation plan shall operate without cost to any political subdivision, any of their departments or agencies, or any of their wholly owned institutions and instrumentalities, except for the incidental expense of administering the deduction of the deferred funds from the employee’s compensation and the remittance thereof […]
