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like some plans do but everybody has a mix of, you know, real estate and equity.
Alderman Lopez
And that 18 years of catch up planned?
Marty Karlon, Director of Communications and Legislative Affairs
The amortization for 2039 is Statutory. So that's something that's in the law in terms of the investment decisions in the
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staying at least flat in the 24 — ‘25 rate cycle compared to ‘22 - ‘23. Whether they'll go down, we don't know because of
other liabilities.
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Marty Karlon, Director of Communications and Legislative Affairs
The auditors may have an issue with it as well.
Steve Bolton, Corporation Counsel
It seems like there's a willingness to deviate from that principle in the other direction. Thank you.
Alderman Dowd
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season.
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Earlier, you asked what the contributions were that came in during the past year. There was a total of $722 million in
contributions. Yes this is less than the benefits that were paid and as Marty said, we are in a negative cash flow position.
But | would like you to know that this is very typical of what is referred to as a mature pension plan. That's why we have
the assets to pay the benefits.
Mayor Donchess
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city to deliver basic services, schools and everything else. | mean, it's just drives property taxes so high.
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Mayor Donchess
Well, of course, we're trying not to shoot the messenger here because | know...
Alderman O’Brien
Right and | hope you understand that.
Mayor Donchess
| know that most of the policies are set by the legislature and you carry out those mandates by and large. But just to get
some basic facts. So you said that last year, the pension system paid out $860 million in benefits. What did you take in
from employers and employees? Do you know that?
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Alderman O’Brien
So there’s about nine years difference between approximately with that. Okay. And can you also define what is anti-
spiking measures?
Jan Goodwin, Executive Director of NH Retirement System
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Mayor Donchess
Oh okay. Sorry.
Jan Goodwin, Executive Director of NH Retirement System
No worries. Without this five years smoothing, the employer contribution rates would experience significant swings every
few years. Slide 20. The employer contribution rate for NHRS has three separate components: normal cost, unfunded
liability amortization, and the medical subsidy. Let's look at these one at a time.
