New Hampshire's Pension Reform: Tallying the bottom line

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Brief Description

In adopting a menu of reforms to New Hampshire’s Retirement System (NHRS) last month, lawmakers had one essential goal: reduce the state’s pension costs without increasing costs for local communities.

Compared to the status quo, the reforms will lower overall pension costs for public employers as a whole. But the impact will vary considerably across state, county and local government. Recent lawsuits challenging aspects of the reform package make it difficult to gauge the precise impact. But under every likely scenario analyzed by the Center, the new reforms will yield year-over-year savings for the state, while local governments – the towns, cities and school districts who pay into the retirement system – will see higher pension costs, year over year.