New Mexico Enacts Bipartisan Pension Reform to Improve PERA Solvency

In Politics by Michael Rae

This week, New Mexico Gov. Michelle Lujan Grisham signed into law Senate Bill 72, bipartisan legislation designed to begin tackling the Public Employees Retirement Association’s (PERA’s) solvency challenges through benefit design changes and increased employer and employee contributions.
PERA currently holds over $6.7 billion in unfunded liabilities, and plan administrators