The Board of Trustees of the New Hampshire Retirement System (NHRS, the retirement system) certified employer contribution rates for fiscal years (FY) 2028 and 2029 at its meeting on April 14, 2026.
For the third consecutive two-year rate cycle, total employer contribution rates for all four membership classifications – Employee, Teacher, Police, and Fire – will decrease as a percentage of covered payroll. The decrease is largely the result of strong investment performance over the five-year period ending June 30, 2025, actual member experience from July 1, 2023, through June 30, 2025, and no changes to demographic and economic actuarial assumptions in this valuation cycle. Because the member payroll increases annually, the total dollar amount paid to NHRS by employers is expected to increase slightly.
The Board’s certification of the 2028-29 employer contribution rates – mandated under state law (RSA 100-A:16, III) – formalized the draft rates that were developed by Gabriel, Roeder, Smith & Company (GRS), the retirement system’s consulting actuary, in the biennial actuarial valuation for the year ending June 30, 2025. The new rates will take effect on July 1, 2027, which marks the start of FY 2028.
For political subdivision Police and Fire employers, the State of New Hampshire will pay the portion of employer contribution rates attributable to benefit enhancements enacted under House Bill 282, which restored certain retirement benefits for Group II, Tier B members.
The New Hampshire Constitution (Part I, Article 36-a) requires NHRS Trustees to set actuarially sound employer contribution rates and requires employers to annually pay those rates in full. Employer rates are calculated every two years to reflect the cost of benefits as they accrue as well as pay down existing unfunded liabilities.
Employer contribution rates for the State of New Hampshire and for political subdivision employers are available here.
Political Subdivision Employer Contribution Rates (printable copy):
State of New Hampshire rates (printable copy):
In addition, NHRS has prepared answers to frequently asked questions on the new employer rates. The FAQ is available here.