NM Senate to debate public worker pension overhaul

March 6, 2013 • State News

SANTA FE, N.M. (AP) — Current and future public employee retirees would see smaller cost-of-living adjustments under a proposal before New Mexico lawmakers to rebuild the long-term finances of a pension plan for more than 55,000 state and municipal workers.

The Senate is expected to debate the proposal Thursday to resolve one of the largest financial problems confronting the state.

The Public Employees Retirement Association pension system has an unfunded liability of about $6 billion. That’s the gap between current assets and what’s owed for expected future retirement Login to read more

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