SANTA FE, N.M. (AP) — New Mexico’s pension fund for state and local government workers has reached a high of $14.5 billion in assets because of strong investment performance.
Officials of the Public [auth] Employees Retirement Association told a legislative committee on Tuesday the fund had an investment return of about 15 percent from July 2013 through the end of last month.
The pension fund returned slightly more than 13 percent in the last fiscal year.
Since the retirement fund was established in 1985, it’s had a net-of-fee return of about 9.5 percent.
The retirement system covers nearly 32,000 retirees and 50,000 state and local government workers, including police and firefighters.
A law was enacted last year to shore up the long-term finances of the pension system.