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By a decisive 9-0 vote, members of the Senate Judiciary Committee voted tonight to advance legislation aimed at shoring up the cash-strapped New Mexico Public Employees Retirement Association
The bill had spent several weeks in the committee, amidst concerns it would hurt low-income retirees and affect the ability of law enforcement agencies to recruit and retain officers.
However, top-ranking Democrats and Republicans, including Gov. Susana Martinez, have identified the solvency legislation as a key issue during this year’s 60-day session.
Both PERA and the state’s other public retirement system, the Educational Retirement Board, have seen their financial conditions worsen in recent years (click here to read more about PERA).
Senate Bill 27 (you can read it here) now moves on to the Senate Finance Committee.
Check tomorrow’s Journal for more information.
-- Email the reporter at dboyd@abqjournal.com. Call the reporter at 505-992-6281
