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Committee hears bill to restore state retirement contribution for municipal employees to ease property tax pressure
Summary
SB 601 would reinstate a state contribution to municipal employee retirement costs (7.5% in the draft) to reduce municipal retirement bills and potential property-tax pressure; NHMA supported the bill and DRA raised drafting and implementation questions, including a fiscal-note estimate of about $36 million for the first year.
Senate Bill 601, introduced by Kevin Tomick on behalf of Senator Pat Long (District 20), would direct the state to contribute to the state retirement system for certain municipal employees in order to reduce municipal retirement-bill pressure on property taxes.
Kevin Tomick introduced the bill and deferred policy questions to subject-matter witnesses. Marty Carlin, representing the New Hampshire Municipal Association (NHMA), said NHMA supports the bill as a…
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