RLCNH Report: Action needed on pension reform - Granite Grok

RLCNH Report: Action needed on pension reform

RLCNH Report for the week is available. Lots going on—continuing Obamacare fight, stopping location tracking without consent, requiring police accountability, decriminalization of small amounts of marijuana—but the most important bill this week is pension reform.

ACTION ALERT!

Fix New Hampshire’s Pension System

SB 229 is the pension reform bill that we’ve all been waiting for, because after an initial period, it would permanently fix the New Hampshire pension system and eliminate the state’s growing unfunded liability. The bill would no longer offer the current pension plan, but instead establish a 401(k)-style plan for all new state hires starting on Nov. 1, 2012. The plan would pay for the unfunded liability within 30 years by using a portion the state’s contribution to each employee to pay down the debt, and would gradually increase the contribution employees receive during that same period. While the bill takes a long-range approach to fixing the pension system, it will actually fix it once and for all and ensure state solvency without the need to further tap taxpayer dollars to address funding shortages.

The RLCNH is making this pension reform bill among its top priorities and urges your support of the bill. 

TAKE ACTION:  

Browse the rest of this week’s RLCNH Report for a bunch more action items and hearings that we need people to attend.

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