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 72 fair valuation requirements over the next 12 months and GASB 74 and 75 OPEB related pronouncements when they become effective within the next 36 months.
  • Develop and implement a Risk Assessment Program to ensure risk is monitored and managed on an ongoing basis.
  • Continue to be diligent in securing, monitoring, and safeguarding member, employer, and stakeholders’ electronic data.

2. Goal – Achieve structural and organizational efficiency.

  • Complete process improvement program (“PIP”) initiatives for automating 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 contributions online via ACH.
  • Review and improve Employer Audit and Education processes, including automation of the Gainful Occupation process.
  • Document business requirements for each operating unit to develop a document imaging and retention project plan.

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

  • Enable filing of paperless retirement applications via the My Account portal.
  • Enhance and increase the quality and scope of member education for newly enrolled members and mid-career members.  
  • Meet or exceed 95% of the Key Performance Measures on a monthly basis.
  • Continuously monitor member satisfaction by utilizing a combination of paper surveys, online surveys, and direct telephone contact.

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

  • Develop a FY 2017 trust fund budget for review and approval by the Board of Trustees.
  • Develop a FY 2018-19 statutory administrative budget for approval by the Board and submission to the NH Legislature.
  • Monitor and manage the administration of each budget and report to the Board on a monthly basis.
  • Negotiate a new collective bargaining agreement which control healthcare costs.

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.

  • 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.
  • Create new annuity values and option factors with the newly adopted actuarial assumptions.

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 retirees and beneficiaries in accordance with NH RSA 100-A.

  • Successfully complete the 2015 Actuarial Experience Study, adopt new actuarial assumptions and certify employer contribution rates in September 2016 based on the new actuarial assumptions and the June 30, 2015 actuarial valuation.
  • Create new annuity values and option factors with the newly adopted actuarial assumptions.
  • Assure compliance with the Board’s Investment Policy and Actuarial Funding Policy.

May 2016