{"id":12068,"date":"2012-10-04T18:15:00","date_gmt":"2012-10-04T22:15:00","guid":{"rendered":"http:\/\/stateimpact.npr.org\/new-hampshire\/?p=12068"},"modified":"2012-10-04T18:15:47","modified_gmt":"2012-10-04T22:15:47","slug":"dc-plan-more-expensive-than-current-db-plan-house-report-says","status":"publish","type":"post","link":"https:\/\/stateimpact.npr.org\/new-hampshire\/2012\/10\/04\/dc-plan-more-expensive-than-current-db-plan-house-report-says\/","title":{"rendered":"DC Plan More Expensive Than Current DB Plan, House Report Says"},"content":{"rendered":"<div id=\"attachment_12069\"  class=\"wp-caption module image right\" style=\"max-width: 300px;\"><a class=\"fancybox\" title=\"\" href=\"http:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/10\/money.jpg\" rel=\"\"><img decoding=\"async\" loading=\"lazy\" class=\"size-medium wp-image-12069\" title=\"money\" src=\"http:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/10\/money-300x199.jpg\" alt=\"\" width=\"300\" height=\"199\" srcset=\"https:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/10\/money-300x199.jpg 300w, https:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/10\/money.jpg 320w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a><p class=\"wp-media-credit\">Tony Case \/ flickr<\/p><p class=\"wp-caption-text\"> <\/p><\/div>\n<p>Republicans have been trying to pass legislation transitioning new employees to a defined contribution retirement plan, in order to reduce the cost of the state\u2019s retirement system. However, a <a href=\"http:\/\/gencourt.state.nh.us\/house\/committees\/committee_websites\/Defined_Contribution\/NH%20Alternative%20Hybrid%20Plan%20Designs_Moody_s_number2_V3-PDF.PDF\" target=\"_blank\">report <\/a>commissioned by the House subcommittee on the subject suggests the Republicans\u2019 plan needs revision.<\/p>\n<p>\u201cTotal pension funding costs will rise as the State implements the DC plan for new hires,\u201d writes The Segal Group, a benefits and human resources consulting firm contracted by the House subcommittee.<!--more--><\/p>\n<p><div class=\"related-content alignright\"><h4 class=\"related-header\">Related<\/h4><div class=\"links\"><h5>Posts<\/h5><ul><li class=\"link\"><a href=\"http:\/\/stateimpact.npr.org\/new-hampshire\/2012\/06\/05\/pension-reform-some-myth-busters-to-follow-the-stalemate\/\">Pension Reform: Some Myth-Busters To Follow The Stalemate<\/a><\/li><li class=\"link\"><a href=\"http:\/\/stateimpact.npr.org\/new-hampshire\/2012\/06\/05\/pension-reform-an-introduction\/\">Pension Reform: An Introduction<\/a><\/li><li class=\"link\"><a href=\"http:\/\/stateimpact.npr.org\/new-hampshire\/2012\/08\/17\/pension-privatization-update-house-committee-scopes-out-financial-services-firms\/\">Pension Privatization Update: House Committee Scopes Out Financial Services Firms<\/a><\/li><\/ul><\/div><div class=\"topics\"><h5>Topics<\/h5><p class=\"topic\"><a href=\"http:\/\/stateimpact.npr.org\/new-hampshire\/topic\/pension-reform\/\">Pension Reform<\/a><\/p><p class=\"topic\"><a href=\"http:\/\/stateimpact.npr.org\/new-hampshire\/topic\/pension-system\/\">Pension System<\/a><\/p><p class=\"topic\"><a href=\"http:\/\/stateimpact.npr.org\/new-hampshire\/topic\/retirement\/\">Retirement<\/a><\/p><\/div><\/div>The Segal Group\u2019s findings were consistent with those of <a href=\"http:\/\/www.nhrs.org\/documents\/GRS_DC_Plan_Study_01_11_11_FINAL.pdf\" target=\"_blank\">Gabriel Roeder Smith &amp; Company<\/a>, whose report was commissioned by the New Hampshire Retirement System in Jan., 2011.<\/p>\n<p>The report included recommendations for ways to make the DC plan less expensive \u2013 such as lowering employer contribution rates for younger employees. The report also suggested nontraditional defined benefit and DC\/DB hybrid plans that combine aspects of both methods.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Republicans have been trying to pass legislation transitioning new employees to a defined contribution retirement plan, in order to reduce the cost of the state\u2019s retirement system. However, a report commissioned by the House subcommittee on the subject suggests the Republicans\u2019 plan needs revision. \u201cTotal pension funding costs will rise as the State implements the [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":12069,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[51,53],"tags":[400,321],"acf":[],"_links":{"self":[{"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/posts\/12068"}],"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=12068"}],"version-history":[{"count":0,"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/posts\/12068\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/media\/12069"}],"wp:attachment":[{"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/media?parent=12068"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/categories?post=12068"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/tags?post=12068"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}