Hollis-Brookline NHRS Summit June 25, 2013 Barbara T. Reid NHMA Government Finance Advisor And Dean Michener NHSBA Associate Director.

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Presentation transcript:

Hollis-Brookline NHRS Summit June 25, 2013 Barbara T. Reid NHMA Government Finance Advisor And Dean Michener NHSBA Associate Director

26/25/13

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State Retirement Contribution for Teachers, Police and Firefighters FY 35% = $51.6 million FY 30% = $51.5 million FY 25% = $44.3 million FY = $ 3.5 million FY 13 and forward = $ O 6/25/13 6

Net Impact of Retirement Reforms, Elimination of State Contribution, and Assumption Change Plan (benefit) changes reduced the unfunded liability (estimated at $3.8 billion) by $430 million. FY 2012 cost savings to local governments due to HB 2 reforms estimated at $43 million to $48 million (includes increased EE contributions). Savings to the SNH due to elimination of retirement contribution estimated at $59 million (35%) or $41 million (25%). Assumption change (lowering the assumed rate of return from 8.5% to 7.75%) estimated at $568 million for local governments. 7

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