summary
Introduced
01/20/2026
01/20/2026
In Committee
01/26/2026
01/26/2026
Crossed Over
Passed
Dead
02/19/2026
02/19/2026
Introduced Session
2026 Regular Session
Bill Summary
AN ACT RELATING TO PUBLIC EMPLOYEE PENSIONS; PROVIDING A TEMPORARY, ADDITIONAL, NON-COMPOUNDING PAYMENT TO RETIRED MEMBERS UNDER THE PUBLIC EMPLOYEES RETIREMENT ACT; MAKING AN APPROPRIATION.
AI Summary
This bill temporarily modifies the Public Employees Retirement Act (PERA) to provide an additional, non-compounding payment to retired members. Specifically, for fiscal years 2027 and 2028, qualified pension recipients will receive an annual payment equal to two percent of their current annual pension, including any previous cost-of-living adjustments. The bill also appropriates $70 million from the general fund to PERA to cover the costs of these temporary payments, with any unspent funds not reverting to the general fund at the end of a fiscal year. This change is intended to provide a temporary financial supplement to retirees during these fiscal years.
Committee Categories
Government Affairs
Sponsors (10)
Cynthia Borrego (D)*,
John Block (R),
Nicole Chavez (R),
Eleanor Chávez (D),
Art De La Cruz (D),
Wonda Johnson (D),
Charlotte Little (D),
Tara Luján (D),
Joseph Sanchez (D),
Liz Stefanics (D),
Last Action
HGEIC: Reported by committee with Do Pass recommendation (on 01/26/2026)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=41&year=26 |
| HGEIC Committee Report | https://www.nmlegis.gov/Sessions/26%20Regular/bills/house/HB0041GE1.pdf |
| Fiscal Note | https://www.nmlegis.gov/Sessions/26%20Regular/firs/HB0041.PDF |
| BillText | https://www.nmlegis.gov/Sessions/26%20Regular/bills/house/HB0041.pdf |
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