Board of Trustees

The members of the New Hampshire Retirement System Board of Trustees are appointed and serve pursuant to RSA 100-A:14.

NHRS is not a state agency under the executive branch; it is a component unit of the state governed by statute and overseen by the Board of Trustees. Trustees are fiduciaries bound by law to act solely in the interest of the participants and beneficiaries of the pension plan.

NHRS is administered by a 13-member Board of Trustees that includes one employee member, one teacher member, one firefighter member, one police officer member, four employer representatives, four public members, and the State Treasurer.

All trustees – with the exception of the State Treasurer, who serves ex officio – are nominated by the governor for three-year terms and must be confirmed by a vote of the Executive Council.  Any newly appointed or reappointed trustee must have familiarity with or experience in finance or business management.

The governor is responsible to designate one of the public trustees to serve as chair of the board.

Board Policies

Board Members

Timothy Lesko, Chair

Public memberAppointed: January 2018

Lesko_Tim_NHRS-1271_WebTim Lesko is a Director/Senior Wealth Advisor at Mariner Wealth Advisors in Concord. Prior to joining Mariner, Tim was a Partner at Granite Investment Advisors. Tim’s previous experience came at NationsBanc Montgomery Securities and Merrill Lynch Pierce Fenner & Smith. He is a frequent guest on CNBC’s “Closing Bell,” “Squawk Box Asia,” “Power Lunch” and “The Nightly Business Review,” where he discusses economics, markets, and securities. He is a former trustee of The Beech Hill School, Concord Regional Visiting Nurse Association and the Capital Center for the Arts. He is also a member of the NHRS Independent Investment Committee (IIC). He lives in Concord.

Maureen Kelliher

Public member | Appointed: June 2014

Kelliher_MaureenMaureen Kelliher has more than four decades of investment management experience. She has served as co-chief and chief investment officer for trust and investment management firms as well as money desk manager for several banks. In addition to being a member of the Board, she is also Chair of the NHRS Independent Investment Committee. She holds the Chartered Financial Analyst® designation and is a member of the CFA Institute. She lives in Dover.

Robert Maloney

Public member | Appointed: July 2018

Maloney_Bob_NHRS-1202_WebRobert (Bob) Maloney, the owner of Squam Lakes Financial Advisors, has three decades experience as a fee-only retirement and financial planner, having previously served for 13 years as a trust officer. He is a Board member, Chairman of the Finance Committee, and Treasurer of Speare Memorial Hospital in Plymouth. He is a founding member of the National Association of Personal Financial Advisors (NAPFA), the largest organization of fee-only planners in the US.  He holds a designation as an Accredited Estate Panner (AEP) and has a Master of Financial Services (MSFS). He lives in Holderness.

Paul Provost

Public member | Appointed: November 2022

Paul Provost Headshot FinalPaul Provost joined the Board in November as a public member. A thirty-year veteran of the wealth management and trust business, he has led the wealth management businesses for local community banks in New Hampshire since 2002. He is the president of New Hampshire Trust Company (NHTrust), a subsidiary of New Hampshire Mutual Bancorp headquartered in Concord. Paul earned a bachelor’s degree from the University of Vermont and a master’s degree in Administrative Management from Saint Michael’s College. He is a Certified Financial Planner. He also serves on the boards of the New Hampshire Higher Education Loan Corporation and the Concord Hospital Trust. He previously served as a board chair for the NH Charitable Foundation, Capital Region, and the Central New Hampshire Boys & Girls Club. He lives in Concord.

Germano Martins

Employee Member | Appointed: August 2021

Martins_GermanoGermano Martins is an administrator with the Department of Health and Human Services; he has worked for the Department for 33 years. He attended Nathaniel Hawthorne College and graduated with a dual bachelor's degree in Psychology and Business Administration. He went on to New Hampshire College (now Southern New Hampshire University) and earned his Masters in Business Administration. He previously served on the NHRS board from 2006 to 2011 and from 2013 to 2018. He is also on the Board of Directors of the State Employees Association. He lives in Hooksett where he serves on the town's Budget Committee.

Andrew Martineau

Fire Member | Appointed: December 2020

Andrew_MartineauAndrew Martineau is a captain with Nashua Fire Rescue (NFR), where he has served since 2009. He is a graduate of the Whittemore School of Business and Economics at the University of New Hampshire. He lives in Bow.

Joshua Quigley

Police Member | Appointed: October 2022

Joshua QuigleyJoshua Quigley is a Trooper First Class with the New Hampshire State Police, where he has served since 2008. He has held diverse assignments with the State Police and is currently assigned to the Major Crime Unit, assisting the NH Attorney General’s Office with a large-scale juvenile abuse investigation.  He currently serves as a Director of the NH Police Association and as the Secretary of the NH Trooper’s Association. Prior to joining the State Police, he was employed in the financial services industry by a data vendor that provided a variety of services to institutional investment firms.

Sue Hannan

Teacher Member | Appointed: August 2018

Hannan_Sue_NHRS-1217_WebSue Hannan has been a middle school teacher in public education for 29 years, and currently works in professional learning and credentialing in the Manchester School District. She is also the president of the Manchester Education Association, a post she has held for eight years. Hannan and her husband owned a financial services company for 15 years, working directly with consumers. She earned her undergraduate degree from the University of Maine at Farmington, and her Master’s Degree in Educational Leadership from Southern New Hampshire University. She is a Justice of the Peace for Rockingham County, and lives in Derry.

Donald M. Roy

Employer Member - NH School Boards Association | Appointed: July 2011

Roy_DonaldDonald Roy, the longest-serving member of the Board, founded New England Wealth Advisors more than 30 years ago. The firm is currently located in Bedford. He has a degree in Business Management from Franklin Pierce College, and is a Certified Financial Planner who has taught adult education classes for over 20 years. He has served on other boards, including Big Brothers/Big Sisters of Greater Nashua and the Adult Learning Center of Nashua. He lives in North Hampton.

Jon Frederick

Employer Member - NH Municipal AssociationAppointed: September 2022

Jon FrederickJon Frederick currently serves as the town manager in Jaffrey. He has a Master’s in Public Administration and previously served as the Director of Parking and Transportation for the City of Portsmouth and as the town manager for three different towns in Maine. Jon served in the United States Coast Guard for 20 years, retiring in 2006. He is the current president-elect of the Jaffrey-Rindge Rotary Club. He lives in Jaffrey.


Employer Member - NH Association of CountiesAppointed: xx


Ken Merrifield

Employer Member - State of NHAppointed: March 2021

Merrifield PhotoKen Merrifield is currently the Commissioner of the Department of Labor, where he has served since 2017. Before becoming Labor Commissioner, he worked in senior finance positions at the state Department of Health and Human Services and state Department of Education. He is a former five-term mayor of Franklin and also served on the Franklin City Council and the Franklin and SAU 18 school boards. Ken earned a bachelor’s degree from St. Anselm College and an MBA from Franklin Pierce University. He lives in Franklin.

Monica Mezzapelle

State Treasurer (ex officio member)Appointed: March 2020

Monica Mezzapelle LR ColorMonica Mezzapelle was elected State Treasurer by the Legislature in 2020 after serving as Deputy Treasurer for six years. In addition to overseeing Treasury operations, she is a member of numerous statutory boards and commissions, including serving as Chair of the NHRS Audit Committee, is the trustee of the NH 529 College Savings Plan, and shares the administration of the STABLE NH Plan (savings plan for individuals with disabilities) with the Executive Director of the Governor’s Commission on Disabilities.  She began her career in public accounting and joined the NH Office of the Legislative Budget Assistant Audit Division in 2000. She is a Certified Public Accountant and holds the AICPA designation of Chartered Global Management Accountant. She received her B.S. in accounting and finance from La Salle University. She lives in Concord.

Board Committees

  • Audit: Mezzapelle (chair), Coates, Kelliher, Lesko, Martins
  • Benefits: Coates (chair), Martineau, Martins, Roy
  • Governance: Roy (chair), Frederick, Maloney, Mezzapelle, Provost
  • Legislative: Merrifield (chair), Frederick, Hannan, Martineau, Quigley
  • Personnel, Performance and Compensation: Hannan (Chair), Lesko, Maloney, Merrifield, Quigley

Board Public Materials

FileTypeSizeUploaded onDownload
Public Board Materials - March 2023PDF3.87 MB13 Mar, 2023 Download
Public Board Materials - February 2023PDF6.21 MB13 Mar, 2023 Download
Public Board Materials - January 2023PDF3.67 MB06 Jan, 2023 Download
Public Board Materials - December 2022PDF5.87 MB08 Dec, 2022 Download
Public Board Materials - November 2022PDF4.48 MB07 Nov, 2022 Download
Public Board Materials - October 2022PDF4.11 MB06 Oct, 2022 Download
Public Board Materials - September 2022PDF2.27 MB08 Sep, 2022 Download
Public Board Materials - August 2022PDF3.00 MB05 Aug, 2022 Download
Public Board Materials - July 2022PDF4.51 MB11 Jul, 2022 Download
Public Board Materials - June 2022PDF3.55 MB09 Jun, 2022 Download
Public Board Materials - May 2022PDF2.58 MB06 May, 2022 Download
Public Board Materials - April 2022PDF2.76 MB08 Apr, 2022 Download