NHRS Three-year Strategic Plan Priorities

July 2016 – June 2019

2016-2017 (FY 2017)

  • Complete Phase II of process improvement project (“PIP II”), for Insurance, Employer Reporting Services, and QDRO.
  • Complete 2010-15 Experience Study; integrate revised assumptions into rate certification and set contribution rates for Fiscal Years 18 and 19.
  • Implement new pension option factors.
  • Establish co-location site and document and implement a comprehensive business continuity plan.
  • Develop and implement a comprehensive imaging and document retention strategy.
  • Undertake an evaluation of upgrade of LRS Pension Gold to a newer version and / or alternatives.
  • Increase education outreach to members in the early to mid-career stage.
  • Prepare for Legislative Decennial Commission (2008 Leg. Report).
  • Document a succession plan for key NHRS management positions.
  • Implement GASB 72 (effective June 30, 2016).

2017-2018 (FY 18)

  • Review and adjust the three year strategic plan as appropriate.
  • Execute on remaining PIP II implementation per project plan developed in prior year.
  • Implement GASB 74 (effective June 30, 2017).
  • Participate in and support Legislative Decennial Commission.

2018-2019 (FY 19)

  • Implement GASB 75 (effective June 30, 2018).
  • Set contribution rates for FY 20 and 21, using the June 30, 2017 valuation.
  • Evaluate progress on all objectives and initiatives over prior 24 months to determine what has been achieved and what still needs to be addressed.

Notes

Plan does not address day-to-day issues such as managing implications of legislative action or litigation outcomes, which may be material, but are entirely unpredictable. Also, see KPMs for performance measures.

FY 18 and FY 19 will be reviewed and adjusted depending on results of FY 17.