State failed to control retirement system cost

The Portsmouth Herald faults the Legislature for failing to address a problem that drawfs the state's budget problem; the New Hampshire Retirement System.

Lawmakers did virtually nothing to bring the system in line with the realities of the times we live in and, in fact, downshifted some of the state's excessive retirement costs onto cities and towns.

This is unconscionable given both the decision to require municipalities through their property tax structure to pay 70 percent of the retirement costs instead of the previous 65 percent and the timing of that decision — after municipal budgets had already been prepared and approved.