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Old 06-30-2017, 08:19 PM
 
Location: Madbury, NH
143 posts, read 195,883 times
Reputation: 101

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I just figured with such fiscal conservativeness so seemingly prolific in NH, I am shocked that NH is so far behind in its funding to its pensioners. So, is this sort of our national debt that will just never be paid back and eventually explode like what is about to happen in Illinois? And, how the heck is NH ever going to make up 4.3 billion dollars? How did this happen? Is the buck just going to keep getting passed? Curious....
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Old 06-30-2017, 08:32 PM
 
Location: West Madison^WMHT
3,174 posts, read 2,749,385 times
Reputation: 3822
Post Decennial Retirement Commission to make recommendations to ensure the long-term viability of the [NH] retirement system

We can start by passing Rep. Neal Kurk's “double dipping" bill, HB561.

The Decennial Retirement Commission will take up the bill next week.
Quote:
Originally Posted by Fosters
A law establishing the Decennial Retirement Commission charges it with studying the NHRS every 10 years to review funding, benefits and investment results. The commission is also charged with making recommendations to ensure “the long-term viability of the retirement system, including an appropriate funding methodology.” A report by the NHRS describes the commission as charged with reviewing the current plan “for paying off the retirement system’s unfunded liability; the effects of retirees returning to work, and; the effects that changes to employer contribution rates have on municipalities.”
Senate retains bill to penalize 'double-dipping' - News - fosters.com - Dover, NH
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Old 06-30-2017, 08:33 PM
miu
 
Location: MA/NH
16,475 posts, read 33,443,403 times
Reputation: 15207
It better not be through property taxes... but maybe for a start, cut funding for full time kindergarten.
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Old 06-30-2017, 09:28 PM
 
Location: New Hampshire
451 posts, read 294,120 times
Reputation: 563
Quote:
So, is this sort of our national debt that will just never be paid back and eventually explode like what is about to happen in Illinois?
yes.
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Old 06-30-2017, 10:33 PM
 
4,080 posts, read 4,371,617 times
Reputation: 5111
This is a problem all over the country. City, state & federal employees are making millions of dollars in work & lifetime benefits....often time for useless paper-shuffling jobs. It's not sustainable.
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Old 07-01-2017, 07:13 AM
 
Location: Meredith NH
1,464 posts, read 2,147,189 times
Reputation: 2435
Quote:
Originally Posted by Brave Stranger View Post
This is a problem all over the country. City, state & federal employees are making millions of dollars in work & lifetime benefits....often time for useless paper-shuffling jobs. It's not sustainable.
Unions overwhelmingly support democrats who,once elected,give them anything they want.Lavish pensions and lifetime health care are bankrupting many cities and states.
Some of these people work 25 or 30 years and then retire for the next 25 or 30 years.It's crazy.
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Old 07-01-2017, 07:17 AM
 
2,660 posts, read 1,277,797 times
Reputation: 2513
The real problem is no doubt worse than you think. Current public accounting rules allow public retirement funds to use unrealistic assumptions about plan investment returns. This makes deficits seem smaller.

NH govt employees do not pay into Social Security. Short term that makes the state and the employee better off, since each is 6% richer or so. But if someone invested 12% of salary per year....
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Old 07-01-2017, 07:39 AM
KCZ
 
1,554 posts, read 768,906 times
Reputation: 4358
The double dipping bill is a good idea, but it's probably just a drop in the bucket.
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Old 07-01-2017, 07:55 AM
 
Location: New Hampshire
451 posts, read 294,120 times
Reputation: 563
At this point there are more people sitting in the wagon than there are pulling it. Only a matter of time before this all comes to an end.
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Old 07-01-2017, 09:59 AM
 
Location: Madbury, NH
143 posts, read 195,883 times
Reputation: 101
I would say I agree with most posts.....the double dipping I am aware of, and damn if my property taxes go up anymore I am probably going to have to move.....I do not joke. But, folks want to blame unions/gov't employees for making agreements that benefit them and themselves? People get hacked off when they do a job for 20 or 30 years with money being taken from them towards retirement.....and are mad at them for making an agreement that is agreed to? There is a difference from a handout, and an EARNED BENEFIT. So, I guess going forward everyone should be on notice that if you dont want NH giving retirement benefits we better call our reps? And on the other side, you better prepare to be screwed.....possibly? It isnt the unions fault for making an agreement in my eyes that benefits them.....anyone else would do the same thing. We all make agreements that benefit us and our families. Now, the double dipping etc......triple dipping I have even heard of with part time workers even......that, is taking advantage. But, for someone to work 20, 25, 30 years on the job with an understanding they will get x amount for "fill in the blank".....is not wrong in my eyes. I do not understand the hatred towards unions or employees with pensions......and most are NOT lavish. Everyone that goes batcrazy over people earning a retirement that was agreed to just sound very jealous from here. I am sure there are some that are LAVISH.....but again, they were agreed to in good faith and full knowledge. It is the equivalent of what is happening with SS right now......these are EARNED BENEFITS......its the states that are very often not funding properly and figuring crazy interest returns......not the unions or gov't employees etc. Remember....they didnt just get these retirements handed to them for doing zero. They worked a job for quite a while in most cases. Anyhow....I do agree it is going to come to an end.....so is our national debt, wait till interest hits 5%, or 6.....it will be over.....we just keep ignoring it. Our dollars will be worthless regardless if we keep it up.....when are we going to grab the reigns and take control? I agree.....nobody has the will to deal with it. So it probably is a moot question.
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