PERA solvency problem continues

The solvency challenge faced by the New Mexico Public Employees Retirement Association could be on the verge of becoming even more daunting. 
PERA Executive Director Wayne Propst told members of an interim legislative committee Tuesday the pension fund posted a negative return – nearly 0.4 percent – on its $12.1 billion in investments during the fiscal year that ended in June. 
The Public Employees Retirement Association has an annual pension return assumption of 7.75 percent. 
The investment loss will likely mean an increase in PERA’s unfunded liability, which is already pegged at $4.9 billion, when its annual accounting is released later this month.



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