New Mexico PERA Retirees Are Getting Left Behind
We worked our entire careers with the expectation of a secure and sustainable pension. In 2020, the legislature broke the promise it had made to all public employees. Now, we are paying the price. Without change, it will only get worse
Assumptions: 2020-2025: Inflation rate based on US CPI. COLA rate is actual, including 13th checks. 2026 onward: Inflation rate 2.3%; COLA rate 0.6%
AN UNCERTAIN FUTURE
Our Pensions have lost 20% of their purchasing power since 2019.
Across New Mexico, more than 30,000 retired public workers have lost 20% of their pension spending value since 2019, with cumulative Cost-of-Living Adjustments (COLAs) falling 24% below inflation. Unless the Legislature makes changes, it’s only going to get worse.
Prior to 2020, state law committed 2% COLAs to public employee pensions. In 2020, the Legislature changed COLAs impacting thousands of people who were already retired—and counting on our pensions. If we live 25 years from now, our pensions will be worth just about half (54%) of what they were in 2019. That means we will be able to pay for only HALF what we could afford in 2019.
The Legislature Can Fix This! They can do it without hurting PERA, but we have to act fast. Elected officials need to hear from us!
Take the first step
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INFORM YOURSELF
Contact the Candidates
Whomever becomes Governor will have many issues on their plate when they take office. Let’s make sure they know people care about this one! Contact the campaigns and let them know that State Government should fulfill the commitment made to retired public servants and restore the 2% COLAs promised in statute.
CAMPAIGN EMAIL ADDRESSES:
DEB HAALAND: info@debhaaland.com
GREGG HULL: gregg@gregghull.com
SUBJECT: Restoration of 2% COLAs for Public Retirees
Dear [Candidate’s Name]
Because of the changes in Senate Bill 72, public retirees have lost about 25% of their purchasing power over the past five years. Many stand to lose even more in the years ahead.
Public employees dedicated decades of service with the understanding that they would receive a stable and sustainable retirement. Changes enacted in 2020 undermined that expectation, creating real financial strain for thousands of families.
I would very much like to support your candidacy for governor, but I am seeking a clear and direct statement from your campaign on this issue.
Thank you for your time and consideration.
Sincerely,
[Your Name]
GET INVOLVED
Make Your Voice Heard
The legislature can fix this, but they need to hear from you. Contact your legislator and send this simple message or write your own:
SUBJECT: Restore 2% COLAs for Public Retirees
Please restore the 2% Cost of Living Adjustment so public retirees can keep up with inflation.
Public retiree pensions have lost 20% in spending power in the last five years and will continue to decline unless you take action. Retirees need to keep up with inflation so we can live independently and pay our bills!
The law promised us 2% COLAs. The state should restore 2% COLAs that were committed to us in statute before changes made in 2020.
Please restore the 2% COLA for public retirees.
Find Your Legislator
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