CONCORD, N.H. -- Cities and towns are struggling to keep up with increases in the amounts they're tasked with contributing to the state retirement system, and advocates for pensions argue retirees need a seat at the table.

After decades of underfunding, New Hampshire passed a law in 2018 to require the New Hampshire Retirement system to fully pay back its debt, what's called "unfunded liability," which is now roughly $6 billion, within 20 years.

Brian Ryll, president of the Professional Fire Fighters of New Hampshire, pointed out municipalities may need to increase property taxes to help bring down that debt.

"You look at what the taxpayers had to endure financially because of the global pandemic, downshifting additional costs based on an increase in employer rates is only going to hurt them worse," Ryll contended.

Currently, more than 80% of employer contributions go straight to the unfunded liability rather than into benefits for current retirees. When the debt is paid off, cities, towns and school districts will all be able to provide retirement benefits at just 18% of what they're paying now.

Part of what led to the underfunding were lower-than-expected returns on investments by the Independent Investment Committee, charged with growing the retirement system's funds.

Ryll noted the committee does not have any retired voting members, and the Retirement System Board of Trustees in 2011 reduced employee representation by half.

"When you look at benefits and benefit decisions and investments and investment allocations, it's extremely important to have somebody who has a vested interest in this be a part of the decision-making process," Ryll asserted.

Research has shown when retirement systems are managed by those who rely on their benefits, they often report higher returns.

Ryll confirmed he's seen that with the Professional Fire Fighters of New Hampshire's own retirement plan, which he claimed has higher returns because it's managed by firefighters for firefighters.


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HARTFORD, Conn. - In Connecticut, more than 460,000 people care for close friends or family members who can't manage on their own - and their advocates say more federal investment in home- and community-based care would help.

The latest AARP report says four out of five people would prefer to be cared for at home rather than in institutional settings - but 78% of family caregivers face regular out-of-pocket costs to provide that care.

In Connecticut, Betty Bajek is the sole caregiver for her 95-year-old mother.

"She wants to be able to live in her own home, so we are trying our best to keep her there," said Bajek. "Right now, we don't need to bring in any aides, but I anticipate that may happen."

The American Rescue Plan includes a temporary increase in funding to states for home- and community-based services, and some help for family caregivers, investing in respite programs and care coordination.

Groups across the nation are also pushing the "Credit for Caring Act" in Congress, a non-refundable tax credit for eligible, working family caregivers.

Bajek helps her mother with activities of daily living, and helps pay for groceries and house upkeep. She said other possible high-cost items are looming.

"But I just worry that there's still the big things, like the taxes on the house and the insurance on the house," said Bajek. "And medical expenses, I think, are going to start to add up a little bit more as well."

The racial disparities in caregiving costs are significant for Latinx and Black Americans, who spend an average of 47% and 34% of their income on family care respectively, compared to the national average of 26%.

Along with the financial and physical tolls of caregiving, Bajek said the emotional impact carries a weight, too.

"Even though I'm not with her 24 hours a day, she's in my thoughts 24 hours a day," said Bajek. "'Oh, did mom do this? Did mom do that? How can I make it better for her?'"

The Credit for Caring Act is under review in the Senate Committee on Finance. The higher home-care investments in the American Rescue Plan expire next March.

CHEYENNE, Wyo. -- AARP Wyoming is gearing up for a series of Webinars and Telephone Town Halls to help residents of all ages get their financial houses in order.

Jennifer Baier, advisor for the office of volunteer engagement at AARP Wyoming, said navigating your financial future can be a little tricky, and each month's program will offer important tools for those just starting to save for retirement, people working to make their savings last far into their sunset years, and everyone in between.

"Whether you're looking to invest, or you're looking to save," Baier explained. "And a lot of people want to know how to plan their wills and their trusts, they have questions that vary from state to state. So we'll be able to offer some practical advice as it relates to Wyoming."

Whether it's paying off a credit card, making deposits into a retirement account, or being aware of the latest scams to protect assets, Baier noted the series will demonstrate how achieving even basic milestones can improve financial security.

All events will be free and open to the public, and you don't have to be an AARP member to participate. For more information and to sign up, head to aarp.org/wyoming.

The webinars will also help participants decide when to start claiming Social Security benefits. If you apply at age 62, you'll start collecting earlier, but if you wait, your benefit checks will likely be considerably larger.

Baier added the series' final installment will cover ways folks can protect their retirement savings.

"This is where we'll really talk about how fraudsters make it their full-time job to get your hard-earned cash," Baier outlined. "So you spend your lifetime earning, planning and saving, they're literally targeting you. So we'll cover the latest scams, how to protect yourself and your family."

If you think you've been targeted by fraudsters or want to stay up to speed on the latest scams, visit AARP's Fraud Watch Network.

SAN ANTONIO -- The 65-and-older population has grown by over one-third in the past decade, which prompted a Texas man to take a cross-country bike trip to highlight the growing need for senior care.

Jeff Salter, CEO of Caring Senior Services, arrives in Amarillo today, 10 days before he completes his 9,000-mile trip. Salter's company provides caregivers for seniors, to help with tasks that allow them to stay in their homes, rather than move to care facilities.

Salter has visited 30 states on his electric bike since April, and said seniors who can continue living in their homes need more help to do so safely.

"We need more caregivers," Salter asserted. "And there continues to be a shortage of caregivers, and that's part of what I'm trying to do on this ride, is bring that awareness to people. I'm hoping to inspire people that want to become caregivers."

As part of the bike trip, Salter has already raised money to help at least 100 older people install "grab bars" in their bathrooms, where more than 80% of falls happen among seniors. He noted past age 65, falls are the leading cause of injury-related death.

The Centers for Disease Control and Prevention said every 11 seconds, an older person is treated in an emergency room for an often-preventable fall, with treatment cost averaging $30,000.

Salter emphasized the pandemic highlighted the benefits of helping people age in place.

"COVID has shown that individuals that were in community housing were more susceptible to the disease," Salter observed. "Those that were able to stay at home were able to protect themselves better."

Salter's company used the cycling trip to officially launch his initiative, "Close the Gap in Senior Care." He noted at stops along the way, people shared their concerns about aging.

"As we age, things get just a little more difficult, keeping your house neat and tidy, but then also, things like standing in a kitchen and cooking a meal can be taxing as you age," Salter outlined.

After starting his trip in McAllen, Texas last April, Salter headed south to Mississippi and neighboring states before biking to the Northeast. He then headed through the Midwest and Rocky Mountains to California before returning through Arizona and Texas. He's set to arrive home in San Antonio on August 1.