Firefighters, teachers and police officials predict hundreds of workers with vested pensions will quit now rather than risk the reduced benefits now under debate in Concord.
A coalition of public sector workers says GOP-backed efforts to trim future pension benefits may lead to mass-retirements. Speaking at a statehouse news conference, firefighters, teachers, and police officials predicted hundreds of workers with vested pensions will quit now rather than risk the reduced benefits now under debate. Manchester’s fire chief James Burkish says 78 queen city firefighters are eligible to retire, and their leaving will rob communities of seasoned workers and cost money in the short term.
“If the proposed pension reform takes place and all the eligible firefighter retire, it will cost the city of Manchester 3.1 million dollars in least in severance payout.”
Lawmakers are debating how to address a 5 billion dollar unfunded liability at the NH retirement system. Unions says they will accept benefit changes for new workers, but think it’s unfair to force current workers to pay for insufficient contributions in the past by the state and cities and towns