New Mexico pension plan may miss target for year

New Mexico

New Mexico’s pension program for public employees is not expected to hit its investment target this year and it could have a serious impact. 

Wednesday, an executive at one of New Mexico’s pension plans for public employees stated that the agency isn’t on track to hit its investment returns target this year. According to the Albuquerque Journal, Public Employees Retirement Association executive Wayne Propst says returns could come in at three to five percent, well below the 7.25% standard by many plans across the nation. 

Meanwhile, the Educational Retirement Board, the state’s other main public pension system for educators says it’s too early to predict whether they will reach the target. Both plans stated the target of 7.25% is a long term-goal.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Latest Video

Now Trending on KRQE.com

Video Forecast

Grant's Friday Evening Forecast

Thumbnail for the video titled "Grant's Friday Evening Forecast"
More Weather Video Forecast

Don't Miss

More Don't Miss

The Series Ep2: Social Pressure ➞