NH communities face increases in pension rates

AP News
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Posted: Nov 10, 2009 3:53 PM

New Hampshire communities are facing rate increases ranging from 11 to 31 percent for their share of public employees' retirement in fiscal 2012 and 2013.

The actuary advising the New Hampshire Retirement System recommended the rates Tuesday. The system's trustees won't set rates until September.

The state fared the best with a recommended 11 percent rate increase on its contribution for its employees. The highest recommended increases were for teachers and police _ 30 and 31 percent respectively.

Investment returns provide most of the funding for benefits. The pension fund currently has about $5 billion _ an improvement over the $4.3 billion or 18 percent loss for the fiscal year that ended June 30. The 2009 losses will push rates up going forward.