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Tuesday, August 4, 2009

$3.4 billion shortfall for N.H. pension

The Concord Monitor's Lauren Dorgan reports on the projected shortfall in the state's pension system:

The sinking economy has taken a billion-dollar bite out of the state's already-ailing pension system, leaving the New Hampshire Retirement System with about 59 percent of what it needs to pay its long-term liabilities, according to preliminary calculations, for a shortfall of $3.4 billion.

Calculations on the state of the system at the close of the 2009 fiscal year, which ended last month, show that the system has $4.7 billion in assets, according to Retirement System Executive Director Dick Ingram. (more)

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