For Immediate Release: September 12, 2018
CONCORD, NH – Daniel LaPlante of Hancock was recently appointed to the New Hampshire Retirement System (NHRS, the retirement system) Independent Investment Committee (IIC) as a public member.
LaPlante was nominated by Governor Chris Sununu for a three-year term and subsequently confirmed by the Executive Council in July. He replaces David Jensen, an original member of the IIC who did not seek re-appointment.
LaPlante is the Chief Investment Officer of Citizens Bank Private Wealth Management.
The five-member IIC manages investments based on the investment policy and asset allocation approved by the NHRS Board of Trustees. The IIC continuously monitors and evaluates performance, and makes determinations regarding the hiring and retention of fund managers. The IIC consists of three public members and two representatives of the Board of Trustees. Public members are nominated by the Governor and must be approved by the Executive Council. Trustee members are appointed by the chairperson of the Board of Trustees. By law, all IIC members must have “substantial experience in the field of institutional investment or finance.”
NHRS provides retirement, disability, and death benefits to its eligible members and their beneficiaries. The State of New Hampshire and nearly 470 local government employers participate in NHRS for their employees, teachers, firefighters, and police officers. NHRS has approximately 48,000 active members and 35,000 pension recipients. NHRS administers a defined benefit plan qualified as a tax-exempt entity under sections 401(a) and 501(a) of the Internal Revenue Code.
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