Concord, NH – Senate Majority Leader Jeb Bradley (R-Wolfeboro) today hailed the New Hampshire Supreme Court decision in PFFNH v NH, upholding key legislative reforms to the New Hampshire Retirement System.
“I’m encouraged that the Supreme Court has upheld the right and duty of the Legislature to amend and improve the New Hampshire Retirement System. Unless we can address the $5 billion unfunded liability in our state pension system, both taxpayers and workers would be left with a huge financial burden. This decision affirms the Legislature’s ability to make the changes we’ll need to preserve the New Hampshire Retirement System, protect taxpayers, and maintain employee jobs.”
Sen. Bradley was prime sponsor of SB 3 in 2011, which was incorporated into the FY 12-13 budget. Senate Executive Departments and Administration Committee Chair Sharon Carson (R-Londonderry) thanked Bradley for his leadership on pension reform, and said the next Legislature would continue the effort to shore up the New Hampshire Retirement System.
“In 2011, Senator Bradley led the way to make necessary and fair changes to begin reforming the New Hampshire Retirement System. We preserved a generous pension benefit for public sector workers, and in return asked for slightly higher contributions, asked some younger beneficiaries to work 25 years instead of 20 years, and addressed long-ignored abuses to the system. This was a first step in ensuring that public sector workers across New Hampshire have a viable pension system for years to come.”
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