N.H. House Speaker Creates Pension Reform Study Group

Jan 15, 2015

 

Shawn Jasper
Credit Allegra Boverman for NHPR

House Speaker Shawn Jasper is making pension reform a priority of the new legislative session by creating a 14-member committee to study the system that provides retirement benefits for public employees.

New Hampshire's public pension system faces a $4.5 billion unfunded liability and Republicans want to reform the system. Jasper announced the committee Wednesday and appointed Rep. David Hess, a Hooksett Republican, as chairman.

The committee is made up of nine Republicans and five Democrats. The committee is tasked with studying how the program is funded, eligibility and ways to modify the system.

The state Supreme Court recently upheld changes made several years ago that increase the contribution rates for state employees.

The public pension system covers about 50,000 active and 30,000 retired workers.

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