AP NEWS

Task force to address New Mexico’s public pension problems

February 21, 2019

SANTA FE, N.M. (AP) — Officials who oversee one of New Mexico’s major public pension funds say they’re encouraged Gov. Michelle Lujan Grisham is creating a task force to address mounting unfunded liabilities.

The board chair of the Public Employees Retirement Association, Jacquelin Kohlasch, is among those who will serve on the 19-member task force. She said Thursday the goal is developing meaningful solutions to “our very real solvency challenges.”

The Public Employees Retirement Association, or PERA, covers roughly 50,000 active state and municipal workers and 40,000 retirees. It had an unfunded liability of $6 billion at the end of the 2018 budget year.

Lujan Grisham issued an executive order Monday calling for the task force. The panel’s recommendations are due Aug. 30 and will serve as the basis for legislation during the 2020 session.