Past - 2017:
Decennial Commission Redux
» Decennial Commission meets for several months
and generates recommendations, some of which
are subsequently the basis for legislation
° Revisions to Working After Retirement provisions,
limiting the number of hours that can be worked and
simplifying the approach
° Adoption of layered amortization, a mechanism to
reduce volatility by amortizing future asset gains or
losses over 20-year periods
° One-time $500 retiree payment
° Increasing terms of NHRS Trustees from 2 to 3 years,
mitigating turn-over and creating more continuity
Past - 2017:
Decennial Commission Redux
» Decennial Commission also hires the Center for
Retirement Research at Boston College to assess
NHRS, which found:
° NHRS uses among the most conservative assumptions
for mortality and rate of return in comparison to other
large state and local plans
° NHRS investment returns exceed most other plans
° NHRS benefits are modest compared to other plans
° Total government costs for NHRS was about 15% of
payroll compared to a national average of about 18%
° UAAL growth since 2007 was driven by losses in great
financial crisis, level~percent amortization, and
reductions to assumed rate of return
9/20/2021
