NM SUPCO to rule on retirement pension case

New Mexico highest court will issue a decision over whether the state can cut cost-of-living increases for retired educators to shore up the pension system's finances. 

The state Supreme Court heard from lawyers Wednesday in a case brought by four retirees, who contend the state Constitution protects their pensions from reductions such as those required under a law enacted this year. 

There's no deadline for a ruling by the justices. 

The retirees say they have a property right in their retirement benefits, but the attorney general's office told the court that the cost-of-living adjustments can be changed to preserve the pension plan's solvency.

 Retirees saw their pensions increase by just under 2 percent despite the cuts implemented in July.

NM SUPCO to rule on retirement pension case