Copyright © 2018 Albuquerque Journal
SANTA FE – Finding the right medicine to ensure the future financial health of New Mexico’s two large public retirement systems could be a top priority for state lawmakers in the next several years – if not sooner – after pension concerns prompted a recent downgrade of the state’s credit rating.
But New Mexico gubernatorial candidates Michelle Lujan Grisham and Steve Pearce have different ideas on how to shore up the state’s pension funds, which combined cover roughly 110,000 active employees and nearly 90,000 retirees.
Lujan Grisham, a Democrat, says she would oppose cuts to benefits, including any reduction in the annual inflation-related pension adjustments that retired state workers and teachers receive.
“She does not believe that New Mexico needs to eliminate our defined benefit system for current or future educators and state employees and opposes any reduction in cost-of-living adjustments,” Lujan Grisham campaign spokesman James Hallinan said.