PRESS RELEASE

June 17, 2010

Shapiro Moderates Panel on State Pension Reform

CONCORD, NH — Dr. Lisa Shapiro, chief economist for Gallagher, Callahan & Gartrell, will moderate a panel discussion about state pension reform in New England. The panel is part of a June 30th forum that will provide policy makers and regional thought leaders with a deeper understanding of the relevant issues and possible solutions related to public pension reform. The forum is being sponsored by the New England Public Policy Center, established in 2005 by the Federal Reserve Bank of Boston to provide policy makers and the public with unbiased information on key policy issues.

Dr. Shapiro is chairman of the board of the New Hampshire Retirement System, a public employee pension plan with approximately $5 billion in assets and annual benefit payments of more than $300 million; and serves on the system's Independent Investment Committee. She is a member of the Federal Reserve Bank of Boston's New England Public Policy Center Advisory Board, and was appointed by Governor John Lynch in 2007 to serve on the New Hampshire Retirement System Review Commission, where she chaired its Benefits Committee.

For more than 15 years, Dr. Shapiro she has been involved in energy, tax, housing and economic development projects. She analyzes economic and industry trends and works with businesses on strategic and economic issues. She frequently provides testimony to the New Hampshire Legislature and works on matters before New Hampshire regulatory agencies.

Dr. Shapiro holds a Ph.D. in economics from The Johns Hopkins University and a M.S. in resource economics from the University of Maryland.

Gallagher, Callahan & Gartrell is a multidisciplinary law firm located in Concord, New Hampshire.

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