NHMA 2011-2012 Legislative Policy:
New Hampshire Retirement System
NHMA SUPPORTS the continuing existence of a retirement system for state and local government employees that is strong, secure, solvent, fiscally healthy and sustainable, that both employees and employers can rely on to provide retirement benefits for the foreseeable future.
To that end, NHMA:
(a) SUPPORTS legislation that will strengthen the health and solvency of the
New Hampshire Retirement System (NHRS) and ensure the long-term financial sustainability of the retirement system for public employers;
(b) SUPPORTS legislation to change the age at which a group II employee may receive retirement benefits from 45 to 50, effective for current employees with less than 10 years of covered employment;
(c) SUPPORTS legislation to change the determination of the average final compensation to an average of the highest five years of creditable service, instead of the highest three years, for all employees retiring after July 1, 2016;
(d) SUPPORTS legislation requiring that all NHRS rate increases, above those attributable to the $2.4 billion unfunded liability agreed to by public employers in 2007, are to be shared equally between employees and employers;
(e) OPPOSES any legislation which expands benefits that would result in increases to municipal employer costs;
(f) OPPOSES any increase in the municipal 65 percent share of employer costs for police, teachers and firefighters; and
(g) SUPPORTS legislation creating alternative retirement plan design options.
NHMA SUPPORTS continuing to work with legislators, employees and the NHRS on retirement fund deficiencies and ways to assure the long-term health and solvency of the NHRS.
Adopted September 17, 2010