NHRS realized an 8.2% return on investments in the fiscal year ended June 30, 2023.
PBI, a third-party vendor used by NHRS, recently informed us that an application it uses for data transfers, called MOVEit, contained a vulnerability that potentially enabled unauthorized individuals to access data handled using MOVEit. If an NHRS retiree or beneficiary was affected in this incident, that individual will receive a notification letter from PBI within the next few weeks containing information on how to obtain free credit-monitoring services. No system or network of NHRS was compromised or otherwise impacted in this incident.
Brian Bickford of Hopkinton was recently appointed to the NHRS Independent Investment Committee as a public member.
Five bills related to RSA 100-A were enacted by the New Hampshire Legislature during the 2023 session. RSA 100-A is the statute governing NHRS.
Jason Henry was recently appointed to the New Hampshire Retirement System Board of Trustees as an employer member representing the NH Association of Counties.
Governor Sununu's recent executive order dealing with investment funds and strategies based on non-financial considerations, including environmental, social, and governance (ESG) criteria does not impact the retirement system’s $11 billion investment portfolio and decision-making processes, which is already focused on obtaining the highest return at a prudent level of risk and volatility.
Jon Frederick was recently appointed to the NHRS Board of Trustees as an employer member representing the NH Municipal Association.
The New Hampshire Retirement System has hired Raynald Leveque to serve as Chief Investment Officer (CIO), effective October 1.
Seven bills related to RSA 100-A were enacted by the New Hampshire Legislature during the 2022 session and signed into law by the Governor.
Legislation enacted in 2022 will provide a one-time $500 payment to more than 23,000 eligible retirees or beneficiaries receiving a benefit from NHRS.
Legislation enacted in 2022 will modify the calculation of compensation paid in excess of the full base rate of pay under the definition of Average Final Compensation for Group II (Police and Fire) members who commenced service prior to July 1, 2011, and who had not attained vested status prior to January 1, 2012.
Legislation enacted in 2022 will require the State of New Hampshire to reimburse 7.5 percent of local employer contributions to NHRS made in fiscal year 2022 for Group I teachers and Group II police and fire members.
Legislation enacted in 2022 will allow active members who commenced Group II (Police and Fire) service between January 1, 2002, and June 30, 2011, to purchase nonqualified service time in order to reduce the minimum age and service requirements for retirement that were enacted in 2011. Implementation of SB 363 requires significant computer programming and NHRS is unable to accept requests for service purchase cost calculations until the law takes effect.
NHRS will no longer accept email attachments to its general information email address effective August 1, 2022.
The NHRS Independent Investment Committee unanimously voted to direct its external separate-account managers to sell the Russian assets held in the NHRS portfolio as soon as practical and prudent. As of March 1, the combined value of these investments was just under $4 million, or 0.00035 percent of a total portfolio of nearly $11.5 billion.
NHRS realized a 29.4% return on investments in the fiscal year ended June 30, 2021. The three-year, five-year, 10-year, 20-year, and 25-year returns for the periods ended June 30, 2021, were 11.4%, 11.3%, 9.3%, 7.2%, and 7.9%, respectively. All returns are net of fees. The 29.4% return exceeded the total fund benchmark of 24.3%.
One bill related to NHRS was enacted by the New Hampshire Legislature during the 2021 session and signed into law by the Governor. The bill has no impact on members or retirees.
In an effort to inform stakeholders and other interested parties, the NHRS has developed “NHRS … Now You Know,” a series of issue briefs designed to provide plain talk about some of the topics concerning the retirement system.
The NHRS Board of Trustees has named Jan Goodwin to lead the retirement system as Executive Director, effective April 1, 2021. Goodwin is joining NHRS after leading the New Mexico Educational Retirement Board (NMERB) since 2008. She replaces George Lagos, who is retiring March 1.
NHRS responds to a recently received inquiry regarding the membership eligibility of retired teachers who are willing to sign contracts to teach as long-term, full-time substitutes for the 2020-21 school year.