Defending Public Services
Defending Our Retirement
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HB1645 Does Not Fix Our Retirement System
Retirement Change Must
· Ensure the long-term viability of the NHRS
· Reduce unfunded liability by building up the core pension fund (currently at $2.7 billion)
· Fix system to provide future COLAs
· Provide for an adequate health subsidy (or find a way to fund retiree health care)
HB1645 Does None of the Above & harms us because it:
· Creates a 2-tiered system to divide and conquer
o Reduces final average compensation for retirement calculation for all new employees
o Increases Group II retirement age to 55
o Reduces Multiplier to 2%
· Deducts 2% for a future COLA account (no longer a shared employee/employer responsibility)
· Removes 50% of union trustees (Firefighters lose one trustee)
Call or email members of the House Finance and ED&A Committees
Tell them that HB 1645 is a knee-jerk reaction to a problem that has developed over years. The solution must be a measured approach.
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