NM lawmakers working on PERA fund

New Mexico state lawmakers are trying to figure out how to fix a $6.2 billion deficit in the Public Employee Retirement Association's pension fund. 

Several bills are making their way through the legislature on how to come up with the cash and pay current and future retiree benefits. But that means changes not all public employees are happy about.

 Among the ideas is a plan to cut the cost of living raise form 3 percent to 2 percent. However, that adjustment wouldn't be available for seven years. 

The concern is if the Legislature passes a solvency plan like that, scores of public safety employees could retire all at once this year before it takes effect.

NM lawmakers working on PERA fund