- Town Administrator says passing NHRS costs onto property taxpayers "needs to end"

In her February 9, 2011 column on, New London Town Administrator writes:

"One would think that with what have been called “the sins of the past” addressed, the NHRS was on the road to improvement."

"The huge unfunded liability resulted from inadequate investment returns, flawed funding methodologies, and ill-advised gains sharing."
"The current method of solving NHRS problems by passing costs onto the employers (property taxpayers) needs to end."
"...New London’s employer contributions to NHRS have more than doubled from 2006 to 2011, and the Kearsarge Regional School District’s employer contributions have doubled in four years, from $800,000 in FY 2008 to a budgeted $1.6 million in FY 2012."

"...State Senator Jeb Bradley proposed legislation that would reform the retirement system by making a number of critical changes to state law, such as: changing the minimum retirement age for Group II employees from 45 to 50, and changes the minimum years of service from 20 to 25..."