For Immediate Release: November 3, 2020
CONCORD, NH – The New Hampshire Retirement System (NHRS, the retirement system) has again been recognized by the Government Finance Officers Association of the United States and Canada (GFOA) for its annual financial reports.
GFOA awarded a Certificate of Achievement for Excellence in Financial Reporting to NHRS for its Comprehensive Annual Financial Report (CAFR) for the fiscal year ended June 30, 2019. This award is the highest form of recognition in the area of governmental accounting and financial reporting. In order to be awarded a Certificate of Achievement, a government unit must publish an easily readable and efficiently organized comprehensive annual financial report whose contents satisfy both generally accepted accounting principles and applicable legal requirements, as well as demonstrate a “spirit of full disclosure.”
GFOA also presented the retirement system an Award for Outstanding Achievement for its popular annual financial report (“Summary CAFR”) for the fiscal year ended June 30, 2019. This award recognizes state and local governments that extract information from their CAFR to produce a high-quality summary specifically designed to be readily accessible and easily understandable to the general public and other interested parties without a background in public finance.
Financial reports submitted to the CAFR and Summary CAFR programs are reviewed by selected members of the GFOA professional staff and by outside reviewers with experience in governmental accounting and financial reporting. These awards are valid for a period of one year. The GFOA review was delayed this year due to COVID-19.
NHRS has been recognized for its CAFR for 28 of the past 29 years. The retirement system has been recognized for its Summary CAFR every year since it began issuing them in 2007. Both reports are available online at: www.nhrs.org/funding-and-investments/reports-valuations
NHRS is currently compiling financial reports on the fiscal year that ended June 30, 2020. Those reports will be available in mid-December
NHRS provides retirement, disability, and death benefits to its eligible members and their beneficiaries. The State of New Hampshire and nearly 470 local government employers participate in NHRS for their employees, teachers, firefighters, and police officers. NHRS has approximately 48,000 active members and 38,000 benefit 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.
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