House Republicans' - Statement on HB 580 Addressing $7 Billion Deficit in NH Retirement System

CONCORD – House Speaker William O’Brien (R-Mont Vernon) and House Majority Leader D.J. Bettencourt (R-Salem) today released the following statement on HB 580, which addresses the $7 billion unfunded liability in the state’s public retirement system.

House Speaker William O’Brien

“The need for reform to the public employee pension is essential. For years it has been apparent that New Hampshire should address the major problems within our current retirement system including the large and growing unfunded liability. An unfunded retirement system is a liability to the taxpayers of the state – that’s an unfair burden on our working families and it just can’t be ignored any longer. This is a responsible step forward to ensure that the pension system works for retirees, employees, future employees, and the people of New Hampshire.”

House Majority Leader D.J. Bettencourt

“This legislation continues the important discussion regarding pension reform. We look forward to working with the Senate to find lasting solutions. We understand that we have an obligation to both taxpayers and state workers to find solutions that will guarantee the solvency of the retirement system without requiring higher taxes.”