February 14, 2020 – New Mexico’s public pension fund is $7 billion in the hole. If lawmakers do nothing it won’t be able to pay out all the money it has promised. This legislative session Gov. Michelle Lujan-Grisham and state lawmakers have prioritized shoring up the Public Employees Retirement Association. One proposal would put PERA on a path to solvency within two decades by increasing contributions and changing the way retirees’ cost-of-living increases are calculated.
This week at the Roundhouse Gwyneth Doland talks to lawmakers about public pensions—and a new plan to create a voluntary retirement system for the self-employed and people who work at small businesses and nonprofits.
Rep. Phelps Anderson, R-Roswell
Rep. Christine Chandler, D-Los Alamos
Bill McCamley, Secretary of Workforce Solutions
For Further Reading/Listening:
New Mexico public pension reform passes in Senate — The Associated Press
Podcast: Your NM Gov: Ep. 18 with Gwyneth Doland — KUNM
PERA solvency bill advances from key committee after emotional hearing — Santa Fe New Mexican
Op-Ed: Fair PERA fixes will attract, keep workers — Albuquerque Journal
Op-Ed: Task force wants to break pensions’ COLA promise — Albuquerque Journal
This segment is part of the “Your New Mexico Government” Project (#YourNMgov), a collaboration between New Mexico PBS, KUNM Radio, and the Santa Fe Reporter. This endeavor is funded by the New Mexico Local Journalism Fund with public media support provided by the Thornburg Foundation.