Goals & Objectives

1. Goal – Achieve 100% statutory and legal compliance in all operational areas in accordance with a good – faith interpretation of the law governing the retirement system.

  • Implement GASB 74 OPEB pronouncement in FY 2018 and GASB 75 in FY 2019. 
  • Continue to enhance IT security and redundancy to assure the safeguarding of member, employer, and stakeholders’ electronic data.

2. Goal – Achieve structural and organizational efficiency.

  • Complete process improvement program (“PIP”) initiatives for automating member enrollment, insurance authorizations, medical subsidy administration, and QDRO processing.
  • Evaluate current pension administration application to determine whether or not to migrate to a newer version or seek an alternative solution.
  • Launch Employer campaign to process all member and employer contribution payments to NHRS online via ACH.

3. Goal – Achieve delivery of superior service to all retirement system members, beneficiaries and employers.

  • Enhance and increase the quality and scope of member education and outreach for newly enrolled members and mid-career members. 
  • Meet or exceed 95% of the Key Performance Measures on a monthly basis.
  • Develop and implement a comprehensive member satisfaction feedback process by utilizing a combination of paper surveys, online surveys and direct telephone contact.
  • Develop and implement a comprehensive communication and education program for employers.

4. Goal – Achieve development and implementation of an operating budget which assures that all costs incurred are appropriate and reasonable.

  • Develop an FY 2018 trust fund budget for review and approval by the Board of Trustees.
  • Monitor and manage the administration of the Trust Fund budget and the statutory administrative budget and report to the Board on a monthly basis.

5. Goal – Achieve a strong and positive working relationship with the NH Legislature.

  • Prepare for and assist the Decennial Retirement Commission scheduled to convene on or about July 1, 2017, pursuant to RSA 100-A:57.
  • Refine and continue educational outreach to key legislators and committees.

6. Goal – Achieve an investment return at or greater than the assumed rate of return over the long term.

  • Over the long-term, achieve an investment return equal to or greater than the assumed rate of return, currently 7.25%.
  • Achieve an investment return that meets or exceed the total fund benchmark over 3 – 5 years.
  • Achieve an investment return that meets or exceed the peer group median over 3 – 5 years.

7. Goal – achieve recognition by all stakeholders that NHRS is a well-run, efficient and professional organization, operated for the exclusive benefit of its members and beneficiaries.

  • Refine and increase ongoing communication and outreach efforts to inform stakeholders that NHRS is an efficient, cost-effective, and financially secure steward of public employee retirement benefits.

8. Goal – Achieve the proper funding of the pension trust to support the payments of benefits to retireees and benficiaries in accordance with NH RSA 100-A.

  • Review and accept the actuarial valuation for FY 2017 which will serve as the basis for certification of FY 2020-21 employer contribution rates in September 2018.
  • Assure compliance with the Board’s Investment Policy and Actuarial Funding Policy.

May 2017