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Compliance May 24, 2007
NH Senate Approved Measure to Increase Retirement System Contributions
May 24, 2007 (PLANSPONSOR.com) - The New Hampshire
Senate approved a plan Thursday that would mean a 2 ½%
increase for retirees this year, the Associated Press
reported.
Reported by Adrien Martin
According to the news report, the bill will put the New Hampshire Retirement System on more sturdy ground by:
- Shifting the system to a universally recognized accounting method;
- Setting new limits on the diversion of retirement fund money into a special account; and
- Eliminating a provision that allowed extra compensation to be counted toward retirement benefits.
The legislation will now re-enter the House, because the Senate made some revisions to the original bill.
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