Union says LGC risk pools need greater transparency
The Committee to Review the Hearings Officer’s Report with regard to the New Hampshire Local Government Center is studying compliance with the Bureau of Securities Regulations’ order telling the organization to return about $50 million to members and to reorganize its health care, property and liability, and workers compensation trusts as separate entities.
Union representatives told the committee for years their members agreed to small or no raises to compensate for rising health insurance costs, only to learn the LGC was amassing a huge surplus that should have been returned to members and employees who paid the premiums.
Lang, a long-time critic of the LGC and a former board member, said the organization began down the wrong path after the workers compensation trust left the organization and became Primex, which competed with the LGC for insurance needs of cities, towns, school districts and counties.
He urged the committee to require stronger board governance regulations that include expanding the range of board members to include union representatives, public employee retirees or insurance or legal experts.
He said ending the exclusive contracts would also mean the state’s four public risk pools would have to seek competitive bids from insurers to administer their programs, which would save taxpayers money.The committee next meets Sept. 11 to hear from the state’s two other public risk pool managers.
Albert Jones, the director of NH Interlocal Trust, said the only problem with the SBR order is that it does not address how to reimburse retirees or those who left the system after contributing to their health care costs for years.
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