SANTA FE, N.M. (KRQE) – Government workers in New Mexico might have to pay more upfront to ensure they get retirement benefits.
Right now, the state’s PERA Fund, which pays retirement for state, county, and municipal employees, is in danger of running out of money if too many people retire.
Earlier this year, the governor created a task force to address the problem. The group just released its recommendations, including pulling more from employees’ paychecks and requiring individual agencies to up their contributions.
The changes would need approval from the legislature to go into effect.