NM House OKs pension overhaul for public employees

SANTA FE, N.M. (AP) — The House approved a proposal Tuesday to improve the solvency of New Mexico's public employee pension programs by establishing a minimum retirement age of 55 and limiting cost-of-living increases in some government workers' and educators' retirement benefits.

The changes would apply to employees who have worked for state or local governments, school districts or colleges for less than five years as of July.

The House approved the pension bill on a 37-32 vote Tuesday after finding enough votes to revive the measure, which had failed Sunday. The bill goes to the Senate, but there's little time left before the Legislature adjourns Saturday.

About 35,000 employees would be affected in the pensions administered by the Public Employees Retirement Association and the Educational Retirement Board, according to an analysis by the Legislative Finance Committee. However, the changes would not apply to police, firefighters, judges and legislators.

Opponents said changing pension eligibility for current public employees could trigger lawsuits. Any revisions, they said, should apply only to newly hired workers after legislation takes effect.

"I don't think it's fair that we change the rules in the middle of the game," said Rep. Debbie Rodella, D-Espanola.

If you subscribe to the newspaper, you receive FREE access to all the exclusive content of the web site! Simply register to receive uninterrupted access to our award-winning and in-depth local online content!

Renew Current or Past Subscription / Register for Online Subscription

If you currently subscribe or have subscribed in the past to the Los Alamos Monitor, then simply find your account number on your mailing label and enter it below.

Click the question mark below to see where your account ID appears on your mailing label.

Newspaper Acct. ID:
Street Address:	(exactly as it appears on the label)

If you are a subscriber and you do not know your account ID or don't have a copy of your newspaper available that shows the information on the address label you can click continue below to search for your account.

New Subscription/30 Day Free Trial Account

If you are new to the award winning Los Alamos Monitor and wish to get a subscription or simply gain access to our online content then please enter your ZIP code below and continue to setup your account.

ZIP Code:

Create a limited access account.
Register to participate in community forums, post on the community calendar, blog etc. This registration does not give you full access to read our award winning content, etc.

The Los Alamos Monitor | lacirculation@lamonitor.com | 505-662-4185
256 DP Road, Los Alamos, NM 87544
Office Hours are 8:00 a.m. to 5:00 p.m., Monday through Friday