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House committee hears bill to restore 7.5% state share of employer retirement costs for teachers, police and firefighters
Summary
Supporters told the House Finance Committee that HB 197 would return the state to paying 7.5% of political-subdivision employer pension contributions for teachers, police and firefighters, providing property-tax relief for municipalities; opponents questioned whether shifting costs would alter local spending incentives.
Representative Mike Edgar, who represents Hampton in the New Hampshire House, introduced House Bill 197, saying the measure would require the state to pay 7.5% of political-subdivision employer pension contributions for teachers, police officers and firefighters.
Edgar told the House Finance Committee that the bill would “provide much needed relief to political subdivisions and help offset the need for increased property taxes.” He framed HB 197 as a partial restoration of an earlier state promise dating to the retirement system’s formation in 1967, when the state contributed 40% of total employer costs.
The bill’s supporters described a long history of what they called…
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