Goals & Objectives
1. Goal – Achieve 100% statutory and legal compliance in all operational areas in accordance with a good-faith interpretation of the law governing the retirement system.
- Receive “clean” management letter from external auditors, Plante Moran.
- Continue to enhance IT security and redundancy to assure the safeguarding of member, employer, and stakeholders’ electronic data.
2. Goal – Achieve structural and organizational efficiency.
- Meet agreed milestones of LRS PGV3 Upgrade Project to better support NHRS mission.
- Implement a low-cost solution for employers to process all member and employer contribution payments to NHRS online via ACH.
3. Goal – Achieve delivery of superior service to all retirement system members, beneficiaries and employers.
- Develop and implement a strategy to improve service at customer contact points including telephone, fax, email and walk-in interactions.
- Continue to enhance and increase the quality and scope of member education and outreach for newly enrolled members and mid-career members.
- Meet or exceed 95% of the Key Performance Measures on a monthly basis.
- Continue the comprehensive member satisfaction feedback process by utilizing a combination of paper surveys, online surveys and direct telephone contact.
- Continue to improve a comprehensive communication and education program for NHRS participating employers.
4. Goal – Achieve development and implementation of an operating budget which assures that all costs incurred are appropriate and reasonable.
- Develop a FY 2021 trust fund budget for review and approval by the Board of Trustees.
- Monitor and manage the administration of the Trust Fund budget and the statutory administrative budget and report to the Board on a monthly basis.
5. Goal – Achieve a strong and positive working relationship with the NH Legislature.
- Refine and continue presentations and educational outreach to key legislators and legislative committees.
6. Goal – Achieve an investment return at or greater than the assumed rate of return over the long term.
- Over the long-term, achieve an investment return equal to or greater than the assumed rate of return, once determined following the GRS experience study.
- Achieve an investment return that meets or exceed the total fund benchmark over 3-5 years.
- Achieve an investment return that meets or exceed the peer group median over 3-5 years.
7. Goal – Achieve recognition by all stakeholders that NHRS is a well-run, efficient and professional organization, operated for the exclusive benefit of its members and beneficiaries.
- Refine and increase ongoing communication and outreach efforts to inform stakeholders that NHRS is an efficient, cost-effective, and financially secure steward of public employee retirement benefits.
8. Goal – Achieve the proper funding of the pension trust to support the payments of benefits to retirees and beneficiaries in accordance with NH RSA 100-A.
- Assure continued compliance with the Board’s Investment Policy and Actuarial Funding Policy.
- Revise assumptions following the GRS experience study and set employer contribution rates in September 2020 for FY 22 & 23.