NASHUA AIRPORT AUTHORITY
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
For the Year Ended June 30, 2021
Weighted Average Long-Term
Asset Class Target Allocation Expected Real Rate of Retum
Domestic equity 30% 3.71-4.15%
Intemational equity 20% 3.96-6,20%
Fixed income 25% 0.42-].66%
Alternative investments 15% 4.81-7.71%
Real estate 10°%> 2.95%
Total 100%
The discount rate used to measure the collective total OPEB liability as of June 30, 2020 was 6.75%. The
projection of cash flows used to determine this single discount rate assumed that employer contributions
will be made under the current statutes RSA 100-A:16 and RSA 100-A:53. Based on those assumptions,
the OPEB Plan’s fiduciary net position was projected to make al] projected future benefit payments of
current plan members. Therefore, the long-term expected rate of return on OPEB Plan investments was
applied to all periods of projected benefit payments to determine the collective total OPEB liability.
Sensitivity of the Authority’s Proportionate Share of the Net OPEB Liability to Changes in the Discount
Rate
The following presents the Authority’s proportionate share of the net OPEB liability calculated using the
discount rate of 6.75 percent, as well as what the Authority’s proportionate share of the net OPEB liability
would be if it were calculated using a discount rate that is 1-percentage-point lower or 1-percentage-point
higher than the single discount rate:
Current
1% Decrease Discount Rate 1% Increase
(5.75%) (6.75%) (7.75%)
Net OPEB liability $ 7,834 $ 7,214 $ 6,676
NOTE 5—DEFINED BENEFIT PENSION PLAN
Plan Description
The Authority contributes to the New Hampshire Retirement System (NHRS), a public employee retirement
system that administers a single cost-sharing multiple-employer defined benefit pension plan. The plan
provides service, disability, death and vested retirement allowances to plan members and beneficiaries.
Benefit provisions are established and may be amended by the New Hampshire State legislature.
The NHRS issues a publicly available financial report that includes financial statements and required
supplementary information for NHRS. That report may be obtained by writing to New Hampshire
Retirement System, 54 Regional Drive, Concord, New Hampshire 03301 or from their website at
www.nhrs.org.
Substantially all full-time state and local employees, public schoo] teachers, permanent firefighters and
permanent police officers within the State are eligible and required to participate in the Pension Plan.
The Pension Plan is divided into two membership groups. State and local employees and teachers belong
to Group I. Police and firefighters belong to Group II.
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