SANTA FE, N.M. (KRQE) – A bill aimed at shoring up New Mexico’s overextended pension fund for about 110,000 state and local government workers and retirees passed the House on Monday.
It will now go back to the Democratic-controlled Senate. The Senate passed a similar measure but must re-examine the proposal after it was amended.
The effort is back by Gov. Michelle Lujan Grisham. The bill seeks to address concerns about more than $6 billion in unfunded liabilities that are weighing down the credit rating of the state.
This will be the second time the Senate’s voted on it, however, this time, senators must reexamine some changes.