1. (a) The board:

   1. (1) Establishes the allocation of trust fund assets;
   2. (2) Engages investment management expertise;
   3. (3) Formulates investment philosophy and guidelines;
   4. (4) Monitors investment performance;
   5. (5) Discloses the financial condition of the New Hampshire retirement system (NHRS);
   6. (6) Adopts administrative rules;
   7. (7) Reports to the legislature on the general status of the NHRS;
   8. (8) Grants of work and non work related disabilities, service retirements, death benefits; and
   9. (9) Approves internal/external operational policy.
2. (b) The NHRS staff operates under the general policies set by the board and general supervision of the executive director.

3. (c) NHRS staff is responsible for:

   1. (1) Maintaining, controlling and reporting the service and financial accounts to members;
   2. (2) Accounting for and controlling all contributions to the fund;
   3. (3) Producing all financial reporting statements as required under generally accepted accounting principles;
   4. (4) Providing retirement counseling services;
   5. (5) Processing all applications for retirement benefits;
   6. (6) Calculating the cost for prior service credits;
   7. (7) Publishing member benefit informational pamphlets, newsletters and other documents, and
   8. (8) Providing direct support to the trustees in all matters concerning budgets, legislation, audits and all other general operating matters.

Source. #1953, eff 2-9-82 (rule Ret 100); ss by #2740, eff 6-11-84, EXPIRED 6-11-90 New. #5225, eff 9-18-91; amd by #6062, eff 7-15-95 New. #7373, INTERIM, eff 10-13-00, EXPIRES: 4-11-01; ss by #7476, eff 4-10-01; amd by #7571, eff 10-10-01