The New Mexico State Senate last week approved a proposal to shore-up New Mexico’s pubic employee pension fund that covers about 115-thousand state and local government workers.
Tom Trowbridge reports from the Roundhouse:
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Senate Bill 72 would put the New Mexico Public Employees Retirement Association on a path to solvency, beginning with a 76- million dollar cash infusion this year. The pension fund currently has a major unfunded liability.
Gallup Democrat George Munoz is the sponsor of Senate Bill 72.
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Senator Munoz raised eyebrows when he voted in favor of a controversial and so-called ‘red flag’ gun bill just before the Senate considered the PERA bailout, something he conceded in the following comments:
Munoz’s bill was forwarded-on to a hearing late last week before the House Appropriations Finance Committee, where endorsement was widely expected.
For the New Mexico News Network, I’m Tom Trowbridge