But supporters said without changes, other cities and town will see police and firefighting positions unfilled like the 41 in Manchester because of the high cost of employee benefits. Public workers will be laid off, they said.
The bill’s prime sponsor, Sen. Jeb Bradley, R-Wolfeboro, said opponents talk about sharing the burden. "The shared burden right now is crushing employers, which mean property taxpayers," he said.
Without changes in the retirement system, supporters said, the system is not sustainable.
Senate Bill 3 would require newly hired and non-vested employees to work longer and contribute more to their pensions.
The bill also changes how retirement benefits are determined using a five-year average instead of a three-year average.
Also the bill eliminates funding for retiree medical benefits and there would be greater restrictions on retirees working part-time while collecting retirement benefits from the system.