Fri. Oct 7th, 2022

NEW PLAN COULD INCREASE COST OF EMPLOYEE BENEFITS

NEW MEXICO (KSMX) – Plans announced today that would shore up a retirement health care trust for public employees and a statewide pension fund for educators was met with support by a legislative committee. If approved, public employees across the state would pay more for retirement health benefits; the Associated Press is reporting. The plan, suggested by New Mexico Retiree Health Care Authority Executive Director David Archuleta, is a phased-in 50 percent increase in contributions from public employees at school districts, state agencies, as well as city and county governments. Employer contributions would also increase. A separate legislative proposal shows that employers in public education would pay more into the state’s largest public pension fund, without increasing the contributions from teachers.

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