New Mexico PERA Retirees Demand Restored COLAs Ahead of 2026 Governor Race

1 articles · Updated · Santa Fe New Mexican · May 18

New Mexico retirees in the PERA system are pressing the next governor and lawmakers to restore pension benefits cut during past solvency reforms, with reduced cost-of-living adjustments at the center of their campaign.
Those cuts were part of a broader effort to stabilize the Public Employees Retirement Association, alongside higher employer and employee contributions, and officials say the fund’s finances have since improved.
Anne Green-Romig of the NM Retirees COLA Coalition said retirees expected pensions to keep pace with inflation, underscoring how rising prices have sharpened anger over the lower adjustments.
The issue now lands in the 2026 governor’s race, giving candidates from both parties a politically sensitive test involving a large bloc of retired public employees.

Beyond political promises, what innovative financial strategies could solve New Mexico's pension crisis without raising taxes or cutting services?

Are promised pension benefits an unbreakable contract, or must they be adjusted when facing massive unfunded liabilities?