For Immediate Release: July 31, 2015
Contact: Marty Karlon, Public Information Officer, (603) 410-3594; [email protected]
CONCORD, NH – In an effort to inform stakeholders and other interested parties, the New Hampshire Retirement System has developed “NHRS … Now You Know,” a series of issue briefs designed to provide plain talk about some of the major topics concerning the retirement system.
The latest issue brief, “Looking back to move forward,” is now available at: https://www.nhrs.org/now-you-know
Here is an excerpt:
“…(Actuarial) assumptions are based on detailed statistical models and adhere to national actuarial standards of practice. However, they are not facts; no one can predict future events. When the assumptions don’t match the actual experience, there can be an actuarial gain or loss. Put simply, gains reduce employer contribution rates, losses increase employer contribution rates.”
NHRS provides retirement, disability, and death benefits to its eligible members and their beneficiaries. The State of New Hampshire and more than 470 local government employers participate in NHRS for their employees, teachers, firefighters, and police officers. NHRS has approximately 48,300 active members and 31,000 pension recipients. NHRS administers a defined benefit plan qualified as a tax-exempt entity under sections 401(a) and 501(a) of the Internal Revenue Code.
# # #