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New Hampshire Retirement System reports progress toward funding target but warns on return assumptions
Summary
NH Retirement System (NHRS) officials told lawmakers the system is on a multi‑decade path to full funding and credited recent investment performance, but noted lower assumed rates of return raised liabilities and stressed the need for continued contribution discipline.
Jan Goodwin, executive director of the New Hampshire Retirement System, told the House Finance Division I on Feb. 12 that NHRS’s funded ratio has climbed to 68.6% as of the June 30, 2024 valuation and that the system is on a scheduled path to extinguish its unfunded liability by 2039 under current projections.
Nut Graf: NHRS leadership said the system’s funded ratio improved after recent investment returns and policy choices, but trustees reduced the plan’s assumed rate of return in several steps over the past decade; lower discount rates push liabilities higher and increase employer contribution requirements. NHRS officials urged steady employer contributions and said the board favors reaching 100% funding even though that will require continued payments to amortize past deficits.
NHRS Chief Investment Officer Reynald Levesque and Chief Financial Officer Marie Mullen summarized the…
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