'No Quick Fix' for Increasing Retirement Costs

The Londonderry Town Council met with two state representatives on Aug. 20 to address the growing cost of retirement for public officials in the community.

Councilor Tom Freda said that the town has had to bear an increasing cost since 2007. He said that the way the trend is going, the situation could be unbearable in five years.

"It's just going to make it impossible to hire additional personnel," Freda said.

He added that the retirement costs currently constitute 2 percent of the town budget.

Speaking to the council on the issue was State Rep. Kenneth Hawkins, R-Bedford, who said that the pension reform situation is a priority in Concord.

"(The discussion) will start in January when the session start," Hawkins said. "I know it's a priority in the House. It will be a priority in the House."

Hawkins serves as Chairman of the House Pension Reform Committee.

Also in attendance was State Rep. Betsy McKinney, R-Londonderry, who referenced the recent pension revamp in Rhode Island. She said that there is "no quick fix" to the issue in New Hampshire, as changes would be for new employees entering the system.

Hawkins said the last time retirement cost concerns were before the Senate, legislators did not want to touch the issue because it was an election year.

The council plans on inviting State Sen. Sharon Carson, R-Londonderry, to its next meeting to further explore the concern.