Senate Republican Retirement System Proposal is Misguided

Thursday, January 27, 2011


Contact: Senator Sylvia Larsen


(603) 271-3207

CONCORD – Senator Democratic Leader Sylvia Larsen (D-Concord) today questioned the proposed changes to the NH Retirement System offered by Senate Republicans under the sponsorship of Sen. Jeb Bradley.


“We need to have a level-headed discussion on how to solve the real issues facing the retirement system and not this misguided attempt to score political points,” said Larsen.


“During the last four years we made substantial bi-partisan progress restoring the solvency of the retirement system.  Those policies are working and claims that the system is insolvent are alarmist and inaccurate.  My hope is that we can continue to work together to ensure the fund’s long-term viability without balancing the unfunded liability entirely on the backs on New Hampshire’s workers and retirees.  There must be a balance.”


Larsen expressed particular concern with language in the proposal that reneges on promises made to current permanent employees.


“While we recognize the need to resolve these issues, we must not renege on promises that we have made to our current workers and retirees,” suggested Larsen. 


“Honoring the commitments that we have made as a state is not only a legal obligation, but a moral and economic one.  Anything less would jeopardize the financial well-being of over 76,000 New Hampshire citizens and risk down-shifting of social services to our cash-strapped cities and towns.  The NHRS adds over $550 million a year to New Hampshire’s economy – fueling thousands of jobs and contributing millions of dollars in revenue for New Hampshire businesses.”




Tags: ,