Daily Taos News

New Mexico lawmakers are getting set to debate a proposal to rebuild the long-term finances of the public worker pension program... the plan represents more than 55-thousand state and municipal workers... under the plan, public employee retirees would see smaller cost-of-living adjustments... the legislation also would require larger payroll contributions by workers and taxpayers... and starting in july, new employees would have to stay in their jobs for longer before they could collect retirement benefits. the public employees retirement association pension system has an unfunded liability of about 6-billion-dollars. The senate is expected to debate the proposal this week.