Security in retirement is something every worker deserves after a long, successful career in public service. These workers, after dedicating their working life to educating children, enforcing the law, fighting fires and helping our communities run every day, have earned a benefit that must allow them to retire with dignity.
The benefit should ensure a predictable cost for the employers and employees, and it should create – and sustain – a high-quality workforce that is attractive to younger workers to invest a lifetime of public service, in turn adding value to the state’s economy.
In exchange for a lifetime of service, workers need to rely on defined and predictable retirement security that is protected against inflationary pressures. Their benefit should ensure sound investment options and strategies that will result in post-retirement stability, even against the economic concerns of today.
Public sector workers need to be able to look forward to long productive service. Retirement security shall be defined through investments and contributions made over a long-term investment horizon.
Instead of encouraging the idea that working for the public sector is less valuable than working for the private sector, New Hampshire’s retirement system benefit for public workers should set a standard, and be something for larger employers to mirror in the state.
Public service should be viewed as a respectful vocation; a commitment by workers of service and dedication to their home state. It is service that adds value to the quality of life for NH citizens and visitors. Public service is an investment in New Hampshire and retirement security creates a financial cornerstone of the NH economy.