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On Thursday, the House Finance Committee Division I approved an amendment to increase public employees’ payments into the New Hampshire Retirement System.  Rates would rise from 5% to 7% for Group I employees, and from 9.3% to 11% for Group II employees.

This mandatory deduction from wages is nothing less than an income tax on people who choose to work for public employers. 

It would apply to about 51,000 New Hampshire residents – not just state employees, but also local police, firefighters, teachers, county rest home workers, and other public employees.

It would pull more than $100 million out of New Hampshire’s economy, at a time when local retailers are already struggling.

It is a bad idea, and we need to explain that to the other members of the House Finance Committee – quickly.   On Tuesday, March 31, the full House Committee will begin reviewing Division I’s budget recommendations, including both
         * this proposal to take $100 million out of public employees’ pockets, and
         * a new 11.5% tax on the pensions of retired state employees .

Between now and Tuesday, please contact the members of the full House Finance Committee and let them know exactly how bad an idea this is.  Let them know how this will impact your personal finances.  Will you stop eating out at local restaurants?  Will you stop shopping in local grocery stores, and start buying bulk at warehouse chains?  Will you postpone buying a "new" used car, and just hope that your current car keeps running?  Will you still be able to afford to take care of your parents?  To send your child to college?  Will you need fuel assistance to stay warm next year?

Please help members of the full House Finance Committee understand exactly what impact this will have on New Hampshire’s economy.