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Retiree health program proposes solvency plan

November 7, 2013 • State News

SANTA FE, N.M. (AP) — State and local government workers and taxpayers would chip in an additional $90 million a year to improve the finances of a program providing health care insurance to retired public employees under a proposal endorsed by a legislative study committee Thursday.

Mark Tyndall, executive director of the Retiree Health Care Authority, said the health care program is projected to run out of money in 2029 if nothing is done, but solvency would be extended to 2043 if the proposed increases in payroll contributions become law.

The Legislature’s Investments and Pension Oversight Committee endorsed the proposal on a 5-3 vote, Login to read more

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