Executive Board Meeting

October 26, 2005

An Executive Board Meeting of the NHRSTA was held at the Red Blazer on October 26, 2005. Those present were Chairman Roland Lamy, Kevin O’Brien, John Barthelmes, Neal Scott, Jim Norris and Pat MacLean.

Discussion was held regarding the Retirement Coalition and the legislative committee studying the Special Accounts. The Group II account is in better shape than the teachers group as that group will run out of money within the next ten years. Group II has been putting money in before it has been needed as opposed to "paying as you go".

At a recent meeting of the Retirement Coalition it was decided to engage an independent expert to examine the Retirement System and Special Accounts and to provide potential solutions and recommendations. The cost of hiring these experts is fifteen thousand ($15,000) dollars. Each group represented in the coalition was asked to donate one thousand ($1,000) dollars with the larger groups making up the difference.

The Board of Directors voted to send one thousand ($1,000) dollars to the Retirement Coalition to hire this firm to study the Retirement System. In regard to dues it was decided that the dues would remain at fifty ($50) dollars this year and the dues assessment would be reevaluated each year.

Chairman Lamy appointed the following to a membership committee: Sheldon Sullivan, Jack Feenstra, Bob LaCroix and Tom Winn, Chairman. This committee will review the membership requirements and also contact retirees who have not joined and try to get them to join now.

The Board of Directors voted to retain The Parker Group as our lobbyist for the next session at a fee of three thousand five hundred ($3,500) dollars. The next Retirement Coalition meeting will be held on November 2, 2005 and Chairman Lamy plans to attend.

There being no further business the meeting was adjourned.

Respectfully submitted, Patricia A.MacLean, Secretary/Treasurer