Greg Moore, former representative for New Hampshire, said moving the state’s retirement system toward a 401(k)-style plan would help sustain strong credit ratings and improve recruitment efforts.
“One area where NH is good, but could use some focus, is our credit rating. Moving our state retirement system to something like a 401(k) – style (pay as your go) would help. Plus, it would be better for recruiting new state employees,” Moore wrote in a post on X.
According to the New Hampshire Treasury Dashboard, New Hampshire’s general obligation bond credit rating stands at AA+ with stable outlooks from major agencies, reflecting moderate financial resilience, a low liability burden and strong budgetary controls.
The New Hampshire Retirement System operates as a defined benefit plan and reported a funded ratio of 74.2% in 2025. This ratio measures the actuarial value of assets against projected future benefits owed to participants, including state employees, teachers, police and firefighters. The system serves local governments and school boards across the Granite State, according to Equable Institute.
Nationwide public pension systems carried an estimated $1.27 trillion in unfunded liabilities as of early 2025. Several states have examined transitions from defined benefit to defined contribution plans for new hires as a way to contain future obligations and improve portability for employees.
Moore previously served as chief of staff for the New Hampshire House of Representatives. According to Americans for Prosperity, he also held roles as House Policy Director and Director of Public Affairs and Government Relations for the New Hampshire Department of Health and Human Services.
