Recently in State Retirement Fund Category
By Norma Love
Associated Press Writer
The Citizen June 5th 2008
But lawmakers did not fix two key long-term problems: how to fund future cost-of-living increases and how to help all public retirees with health insurance. Instead, they voted to establish commissions to study long-term solutions to both issues.
"This is the second year of what I believe is a five-year effort to restore the strength of our retirement system," said Sen. Peter Burling. The Senate passed the bill 23-0.
Some in the House were less happy with the compromise, but the House voted 303-27 to pass it.
"We failed you. We failed you badly. .....
"HB 1645 is arguably the most important piece of legislation to affect
Editorial The Citizen June 1st, 2008
Taxpayers in cities and towns are at risk
So near, yet so far.
Negotiators deadlocked Saturday morning in an attempt to overhaul the New Hampshire Retirement System. The major sticking point in the dispute is a House of Representatives provision in HB 1645 calling for a cap on pensions for employees hired after July 1, 2009, at 100 percent of their highest year of pay. It is something the unions — particularly the police and firefighters unions — object to. Their argument is it would hurt recruitment and retention would be made more difficult because they work overtime to boost their retirements benefits — retirement for which they become eligible at age 45.
Recruitment and retention is a management function unless otherwise ceded in contract negotiations. The argument of unions to the contrary are at best lame,.......
When you get your property tax bill later this year, add your state senator to the list of people to whom you should complain.
The Senate is on its way to gutting HB 1645 — a measure designed to give the state retirement system long-awaited and badly-needed reform. The bill was initiated in and passed by the House earlier this year, but advocates for the state's taxpayers knew the Senate had the trump hand and leaders of unions representing public employees knew it, too.
After all, it was the public employees unions that were calling the shots.....
By
Union Leader
Thursday, May. 1, 2008
The Senate Executive Department and Administration Committee voted 6-0 yesterday to approve the plan.
The Senate version of the House's reform bill will give annual 2.5 percent cost-of-living adjustments (COLAs) to all New Hampshire Retirement System retirees on July 1. The increase would apply only to their first $30,000 in annual pension payments. Retired workers who make more than $30,000, about one third of all NHRS pensioners, would see a $750 increase next year.
Those who make $20,000 or less would see a $1,000 bonus check each year, plus.....
By JOHN DISTASO
Senior Political Reporter
Sunday, Apr. 20, 2008
Union Leader
State Sen. Peter Burling, D-Cornish, chairman of the Senate Executive Departments and Administration Committee, said that if subsidy increases continue, not only will municipal contribution rates soar by 53 percent, .........
Note from the MCA: There is a chart identifying the financial impact to towns at the end of this article. Moultonborough is not included. This was brought to the attention of the Moultonborough Selectmen at the last meeting, but not fully addressed.
Health subsidy debate pits towns vs. retirees
By JOHN DISTASO
Senior Political Reporter
Union Leader
Sunday, Apr. 20, 2008
Retired public workers fear they will no longer be able to afford medical care ......
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By Rep. Anne-Marie Irwin |
My committee, a joint effort between the House Executive Departments and Administration Committee and the House Finance Committee, has been working on a bill that would make some changes to the state retirement system. The bill is non-partisan; it has sponsors from both parties. So at the State House, where even deciding whether to break for lunch can arouse bitter partisan squabbling, the retirement system bill should be a slam dunk. Everyone agrees the system needs fixing. All we have to do is reconcile some conflicting points of view. For instance:
— A 91-year-old retired teacher in a wheelchair told us that she's having trouble living on her $700-a-month pension. The problem is that the pension is largely calculated on the salary she was making when she retired 35 years ago.
— Some unsmiling, gray-suited auditors told us that the pension fund has $5.96 billion but it needs $9.25 billion to be on track to provide all the future benefits. They said the UAAL — that's the unfunded actuarial accrued liability — is $2.6 billion. They used the same tone of voice a doctor might use in telling you a loved one needs to be rushed to the intensive care unit.
