{"id":11447,"date":"2012-08-17T17:11:37","date_gmt":"2012-08-17T21:11:37","guid":{"rendered":"http:\/\/stateimpact.npr.org\/new-hampshire\/?p=11447"},"modified":"2012-08-17T17:19:39","modified_gmt":"2012-08-17T21:19:39","slug":"pension-privatization-update-house-committee-scopes-out-financial-services-firms","status":"publish","type":"post","link":"https:\/\/stateimpact.npr.org\/new-hampshire\/2012\/08\/17\/pension-privatization-update-house-committee-scopes-out-financial-services-firms\/","title":{"rendered":"Pension Privatization Update: House Committee Scopes Out Financial Services Firms"},"content":{"rendered":"<!--[if lt IE 9]><script>document.createElement('audio');<\/script><![endif]-->\n<audio class=\"wp-audio-shortcode\" id=\"audio-11447-1\" preload=\"none\" style=\"width: 100%;\" controls=\"controls\"><source type=\"audio\/mpeg\" src=\"https:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/08\/nht061212ec.mp3?_=1\" \/><a href=\"https:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/08\/nht061212ec.mp3\">https:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/08\/nht061212ec.mp3<\/a><\/audio>\n<div id=\"attachment_11450\"  class=\"wp-caption module image right\" style=\"max-width: 200px;\"><a class=\"fancybox\" title=\"\" href=\"http:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/08\/401k2012.jpg\" rel=\"\"><img decoding=\"async\" loading=\"lazy\" class=\"size-medium wp-image-11450\" title=\"401k2012\" src=\"http:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/08\/401k2012-300x300.jpg\" alt=\"\" width=\"200\" height=\"200\" srcset=\"https:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/08\/401k2012-300x300.jpg 300w, https:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/08\/401k2012-150x150.jpg 150w, https:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/08\/401k2012-100x100.jpg 100w, https:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/08\/401k2012-60x60.jpg 60w, https:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/08\/401k2012.jpg 500w\" sizes=\"(max-width: 200px) 100vw, 200px\" \/><\/a><p class=\"wp-media-credit\">Flickr_401(K)2012<\/p><p class=\"wp-caption-text\"> <\/p><\/div>\n<p>Today, a legislative committee investigating pension privatization issued a request for information from companies that manage retirement funds.<\/p>\n<p>After pension reform legislation failed to pass last term, House Speaker O\u2019Brien requested that a committee convene over the summer to craft new legislation for next term. The committee will likely propose to move all new public employees to private, defined contribution plans &#8212; like a 401(k).<!--more--><\/p>\n<p>Those already employed by the government would remain in the state-run pension system they are on now.<\/p>\n<p>The idea is to gradually move the state away from the public pension system which is currently facing a $4.2 billion dollar unfunded liability.<\/p>\n<p>Today, that committee has put out a request for information \u2013 a lot like a request for proposals \u2013 from several financial services companies.\u00a0 Will Smith, the committee\u2019s chair, says the information they are collecting will help them recommend a company to manage the private retirement plans, should legislation pass:<\/p>\n<p>\u201cthe committee will probably recommend a particular financial organization be the one that would be chartered to do that.&#8221;<\/p>\n<p>Next, a subcommittee will analyze whether or not the New Hampshire Retirement System can remain viable without the contributions of new employees.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today, a legislative committee investigating pension privatization issued a request for information from companies that manage retirement funds. After pension reform legislation failed to pass last term, House Speaker O\u2019Brien requested that a committee convene over the summer to craft new legislation for next term. The committee will likely propose to move all new public [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":11450,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[474,53],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/posts\/11447"}],"collection":[{"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/comments?post=11447"}],"version-history":[{"count":0,"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/posts\/11447\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/media\/11450"}],"wp:attachment":[{"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/media?parent=11447"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/categories?post=11447"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/tags?post=11447"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}