2020 Legislative Session
PERA reform bill clears House
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A plan that would increase contributions from public workers and the state to the Public Employees Retirement Association to get the pension system on a path to solvency is nearly on its way to Gov. Michelle Lujan Grisham’s desk. The House approved the legislation in a 40-28 vote Monday after hours of debate. Senate Bill 72 calls for a rise in contributions and a temporary suspension of cost-of-living increases for some retirees in an effort to ensure PERA can continue pension payouts well into the future, supporters say. It also calls for reduced cost-of-living increases in the years after the suspension ends. The House made a technical change to an amendment to SB 72, so the measure will need to return to the Senate for approval before going to the governor’s desk, said Daniel Marzec, a spokesman for the House Democrats.