In the beginning...
Prior to July 1, 1967, there were four major public employee retirement systems in New Hampshire; one for firemen established in 1939, a separate one for policemen (1942), another for employees (1945), and the last but not least, for teachers (1950).
In 1967, the Legislature enacted RSA 100-A and established the New Hampshire Retirement System, a defined benefit plan that would merge the four original systems into one.
NHRS was initially a division of the New Hampshire State Treasury when Treasurer Robert Flanders asked Harry Descoteau, the state’s first Assistant State Treasurer, to assume the duties of managing the new retirement system.
Harry Descoteau successfully led and grew the young NHRS, and its $98 million pension fund. In 1977, the Legislature made NHRS its own entity, separate of the Treasury. It was then that Descoteau became the retirement system’s first Executive Secretary, where he served NHRS for many years until his death in 1999.
On this day: July 1, 1967
Beatles’ “Sgt. Pepper’s Lonely Hearts Club Band” goes #1 for 15 weeks
Canada celebrates its 100th birthday as it commemorates 100 years since the signing of the British North American Act
The New Hampshire Retirement System is created, merging the original four retirement systems into one
National
U.S. Population: 200,000,000
U.S. President: Lyndon B. Johnson
Local
NH Population: 697,000
NH Governor: John W. King
In the News: Mount Washington cog railway train derails, kills 8
World events
Vietnam War, 1954-1975
Arab-Israeli Six-Day War, June 5-10
The Outer Space Treaty is signed, banning military use of nuclear weapons in space
How much?
Eggs: $.88/dozen
Milk: $1.15/gallon
Ground Coffee: $.90/pound
Bread: $.22/loaf
Gas per gallon: $0.33
Movie Ticket: $1.25
Avg. Cost for New Car: $2,750
Avg. House: $14,250
Avg. Housing Rent: $125/month
Avg. Income per year: $7,300
Federal Minimum Wage increased: $1.40/hour
Pop culture
First Issue of Rolling Stone Magazine
The Beatles release two albums, Sgt. Pepper’s Lonely Hearts Club Band in June and Magical Mystery Tour in November
Highest Grossing Movies (Domestic): Disney’s The Jungle Book ($141.8 million) and The Graduate ($104.9 million)
Billboard’s Top 100 Songs of 1967: 1. “To Sir With Love” by Lulu
Top Rated Television show: The Andy Griffith Show (CBS)
The Corporation for Public Broadcasting is created
Mister Roger’s Neighborhood premieres on PBS
Robert “Evel” Knieval’s motorcycle jumps 16 automobiles
Sports
The Green Bay Packers defeat the Kansas City Chiefs in the first Super Bowl (35-10)
The St. Louis Cardinals defeat the Boston Red Sox in the World Series (4-3)
Red Sox rookie Billy Rohr comes within one strike of no-hitter in his first start in the big leagues
Science
First human liver transplant
First human heart transplant
Scientist creates DNA in a test tube
U.S. launches lunar orbiter 3
Progress...
Department of Commerce’s Census Clock of the U.S. population ticks past 200,000,000
100,000,000th U.S. phone is connected
The first ATM is put into service in London
The first air conditioned NYC subway car is put into service