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New Hampshire Retirement System, Concord, hired Mellon Investments to manage $160 million in a passive domestic core fixed-income portfolio.
The $10.3 billion pension fund's independent investment committee approved the hiring at its Jan. 10 meeting, spokesman Marty Karlon said in an email.
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When New Hampshire lawmakers consolidated the state’s public retirement systems in 1967, they offered cities and towns a deal: Add municipal employees to the system, and the state would pick up 35 percent of the cost.At the time, the offer was deemed.