Deferred Compensation

The State of New Hampshire offers its full time and part time employees the opportunity to participate in a 457(b), a voluntary supplemental defined contribution retirement plan. The NH 457(B) plan allows you to save for retirement, in addition to the NHRS pension and Social Security (if eligible) on a tax-deferred or Roth basis.

How to Enroll Online

  • Must be employed by the State of New Hampshire and age 18 or older. Click the following link to watch a short video for how to ENROLL
  • Before starting, you will need to have the following information:
    • your full SSN#,
    • your state employee ID,
    • your annual salary,
    • and your approximate Date of Hire.
  • If you are unsure of what investment(s) to choose, start by clicking the "Help Me Do It" (located in the Allocation section during your enrollment) tile box, and your contributions will go into a T. Rowe Price target-date fund (these are approved default investment options for the NH Plan).
  • Contributions can start with just $1 or 1% of your paycheck. You also have the ability to contribute with before-tax or after-tax (Roth) dollars. See the Roth flyer in the Resources box for additional information.
  • You will also need the current Plan Enrollment Code and the Plan number. Click the link in the Resources box.
  • To get started, go to the NH Plan website, click the Register button, and you are on your way!

How to Change your Contribution Online

  • Click on the following link for a video on how to CHANGE your contribution online.
  • Log into your account at http://www.nhdcp.com to make your changes. All contribution changes take effect, the month after the change is made.

Retirement Payouts and Special Catch-Up contributions cannot be done online and will still require completion of paper forms

Special Catch-Up: Click the following link for the Special Catch-Up paycheck contribution form. Use this form only for Special Catch-Up contributions, not regular contributions. Reach out to the Empower Retirement representative listed for your agency in the above Resources box for assistance.

Retirement Payout Contributions:
If you wish to contribute all or a portion of your retirement payouts, subject to the IRS annual limits, you will need to fill out and submit the following paperwork at least 45 days in advance of your last day of work. Contribution paperwork must be signed and dated the month prior to when the payouts are issued by the state.

Forms:

  1. Final Leave Payout Worksheet
  2. Retirement Contribution form - to be used if you are deferring Annual including other leave and your sick time, you will need to fill out two forms, as sick time is paid out separately.
  3. Do not mail these forms to Empower Retirement in Denver, CO.
  4. Reach out to the Empower Retirement representative listed for your agency for assistance.

Employees should return forms to the NH Plan by one of three methods:

  1. Fax it to Empower Retirement at: 603-224-7703 (Your HR/Payroll office may be able to assist with this) (Do NOT email forms.)
  2. Send it interoffice/messenger mail to: NHDCP / State House Annex / Craig Downing
  3. Or mail to this state address:

NH Def Comp Plan
25 Capitol Street
Room 33
Concord, NH 03301

457(b) Contribution Limits - 2021

  • The standard deferral limit, including before-tax and Roth contributions into the NH 457(b) plan is $19,500 in 2021.
  • Age 50+ Catch-Up limit for participants of 50 and above, is $6,500 for 2021 (For a total of $26,000)
  • Special Catch-Up limits for participants within three years prior to normal retirement age (specified by the Plan) is $39,000 for 2021.
  • Age 50+ Catch-Up and Special Catch-Up may not be used in the same calendar year.
  • For additional information on use of the Special Catch-Up, reach out to the Empower Retirement representative listed for your agency in the above Resources box for assistance.

Resources