Thursday, March 5, 2009

Retirement aged raised for some New Hampshire employees.

The following news is a break for New Hampshire taxpayers, but does not go far enough. Retirement age needs to be raised further with life expectancies so long. The pension system needs to be changed to a defined contribution plan from the current defined benefit plan. The current system is a Ponzi scheme. The following piece appeared as an AP article in the Concord Monitor.

Spelling and grammar errors as well as typos are left as an exercise for our readers.

NH House supports raising retirement age for some

CONCORD, N.H. (AP) -- The New Hampshire House is supporting raising the retirement age for newly hired police officers, firefighters and others in law enforcement.

The House voted 279-90 Wednesday to raise the retirement age from 45 to 50 years. The bill also would require the employees to work 25 years - five more than they do now, before qualifying for retirement benefits.

The bill now goes to the House Finance Committee for review.

Last year, the House raised the retirement age as part of a bill overhauling the pension system, but police, firefighters and others affected by the change successfully lobbied the Senate to reject it.

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