Post by Logan on Mar 19, 2017 6:41:34 GMT -6
CONCORD — Left-leaning state employees' unions are supporting a Republican-led bill that seeks to penalize municipalities that hire so-called double-dippers and fine the post-retirement workers who exceed allowable time worked.
Double-dippers are public employees, typically the highest paid police and fire officials, who retire from the New Hampshire Retirement System (NHRS), then are hired by public employers for part-time work. By collecting their pensions, they no longer contribute to the NHRS.
The NHRS is funded by contributions from employees, the employer cities and towns and returns on investments. Its current unfunded liability – the difference between the amount needed to pay promised pensions and the amount of available money – is $5 billion, up from $4.2 billion last year. The state stopped contributing to the NHRS and the full costs are now borne by the hiring cities and towns.
To help close the gap, the New Hampshire Retirement Security Coalition – comprised of police, fire, teachers and other public employees unions – is advocating for passage of House Bill-561, which was passed by the House of Representatives last Wednesday. The coalition of unions claims in a press statement that cities and towns that hire double-dipping pensioners are "gaming" the NHRS.
Read more: www.seacoastonline.com/news/20170315/unions-back-bill-to-curb-double-dipping
Double-dippers are public employees, typically the highest paid police and fire officials, who retire from the New Hampshire Retirement System (NHRS), then are hired by public employers for part-time work. By collecting their pensions, they no longer contribute to the NHRS.
The NHRS is funded by contributions from employees, the employer cities and towns and returns on investments. Its current unfunded liability – the difference between the amount needed to pay promised pensions and the amount of available money – is $5 billion, up from $4.2 billion last year. The state stopped contributing to the NHRS and the full costs are now borne by the hiring cities and towns.
To help close the gap, the New Hampshire Retirement Security Coalition – comprised of police, fire, teachers and other public employees unions – is advocating for passage of House Bill-561, which was passed by the House of Representatives last Wednesday. The coalition of unions claims in a press statement that cities and towns that hire double-dipping pensioners are "gaming" the NHRS.
Read more: www.seacoastonline.com/news/20170315/unions-back-bill-to-curb-double-dipping