PERA’s Redesigned COLA Provides Retirees Inflation Protection and Improved Sustainability

In Politics by Michael Rae

Cost-of-living adjustments are designed to protect retirees against inflation. When the New Mexico Public Employees Retirement Association’s (PERA’s) cost-of-living adjustment is untied from inflation it serves more as an annual pay raise for retirees—at the expense of active and future employees.
Current PERA COLA Policy Is Flawed

A cost-of-living-adjustment (COLA) is meant