State Retirement Fund: June 2008 Archives
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,.......
