9/20/2021
Future -
Paying down the UAAL
a TT i
Partidpants Teachers & State Employees Employees, Teachers, Police, Fire
Active Members 40,395 48,479
Retirees / Beneficiaries 37,151 39,612
Average Pension $23,143 joe dd as PR 85 $20,841
Requires normal cost to be funded on a
sound actuarial basis. new unfunded Requires employer
liabilities funded over 20 years ! contribution rates be based upon sound
State Constitution (layered). any benefit improvements actuarial
must be fully paid for in the yeac they valuation and practice and paid in full
pees: are passed
31-year closed (1997-2028); Layered 20 30-year closed (2010-2039);
Amortization of UAAL year amortization of new gains and losses Layered 20-year amortization of new gains and
beginning in F¥ 97 - losses beginning in FY 19
Actuarial Method | _Entry Age Normal Entry Age Normal
Assumed rate of 6.755 6.75%
Investment return *
Funded Ratlo
at start of SIRAFY 96) 57.4% (FY10)
82.4% 61.0%
|}.
Future -
Issues to Watch
» Legislative
° Benefit changes
° COLA
° Alternative retirement plans
» Economic
° Assumed rate of return
° Short- and long-term market outlook
° Interest rates/Inflation
» Demographic
° School-age population
° ‘Graying’ of NH
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