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.

NHRS Board of Trustees Governance Manual

Board Members


Richard Gustafson, Ph.D.
Public member 


Robert Maloney

Public member


Maureen Kelliher

Public member

 Lesko_Tim_NHRS-1271_Web Timothy Lesko

Public member


Melvin Friese

Employee Member


George Walker

Fire Member

William Hart

William Hart

Police Member


Sue Hannan

Teacher Member


Donald M. Roy

Employer Member
NH School Boards Association


Scott Myers 

Employer Member
NH Municipal Association


Christopher Coates

Employer Member
NH Association of Counties

 Milligan 2011 Portrait

Michael Milligan 

Employer Member
State of NH


Bill Dwyer

State Treasurer

Board Committees

  • Audit: Dwyer (chair), Coates, Friese, Kelliher, Lesko
  • Benefits: Walker (chair), Coates, Friese, Hart, Roy
  • Governance: Roy (chair), Dwyer, Gustafson, Hannan, Maloney
  • Legislative: Myers (chair), Gustafson, Hannan, Maloney, Milligan
  • Personnel, Performance and Compensation: Hart (chair), Gustafson, Milligan, Myers, Walker

Board Public Materials

FileTypeSizeUploaded onDownload
Board Public Materials - November 2018PDF10.43 MB09 Nov, 2018 Download
Board Public Materials - October 2018PDF19.57 MB08 Oct, 2018 Download
Board Public Materials - September 2018PDF9.99 MB07 Sep, 2018 Download