New Mexico Retirees are Being Left Behind
Prior to 2020, New Mexico state law committed 2% Cost of Living Adjustments (COLAs) to public employee pensions. But that’s no longer the case.
In 2020, the Legislature changed the COLAs after tens of thousands of us were retired and counting on our pensions. Since that change, our pensions have lost thousands of dollars in value.
It’s only getting worse. 30 years from now, our pensions will be worth 52% of their 2019 value.
TAKE ACTION
The Legislature can fix this, and there are currently bills before committee that support restoration of the COLAs. Contact your legislators now to support restoring COLAs.
PERA Pensions’ Declining Value
The Legislature’s decision in 2020 to reduce PERA Cost of Living Adjustments (COLAs) has cost you.
With few exceptions, all PERA pensions over $25,000 have lost close to 20% of their value since 2019.
Since 2020, when the Legislature changed the COLAs, our pensions have lost thousands of dollars in value, and they are not keeping up with the cost of living.
Without a change to the COLAs, it’ll get worse. 30 years from now, our pensions will be worth 52% (about half) of their 2019 value.
This graph shows the value of PERA pensions adjusted for inflation and includes a 0.5% COLA. The projections are based on actual inflation rates from 2005-2019, which eliminates the most recent high inflation years. https://www.usinflationcalculator.com/
Take Action: Contact Your Legislators
Two bills have been introduced in the 2025 legislative session that restore cost of living adjustments. We need a strong showing of community support for these bills to pass.
House Bill 164
Take Action Now!
House Bill 164 restores a 2% cost of living increase for retirees when they reach 65. Read the text of the bill and track its progress
Senate Bill 30
Take Action Now!
Senate Bill 30 restores a 2% cost of living increase for retirees when they reach 65. Read the text of the bill and track its progress