News & Announcements

LETTER FROM PERA BOARD CHAIR JOHN MELIA

Dear PERA Members, I know these are extraordinarily uncertain and stressful times for all of us but I wanted to write to provide you with assurances about PERA and your retirement.

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PERA OFFICES TO CLOSE

The Albuquerque and Santa Fe offices of the Public Employees Retirement Association of New Mexico (PERA) will be closing until further notice. It is anticipated that the closures will last until New Mexico public schools resume normal operations. “This is not an easy decision, but we are making it in the best interest of our members and staff.” Board Chair John Melia and Executive Director Wayne Propst said in a joint statement. While the offices will be closed, essential services will continue.

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PERA and Public Health

On March 11, 2020, Governor Lujan Grisham declared a public health emergency for New Mexico. PERA is actively preparing to continue normal business practices. We are dedicated to our members and their health. We are encouraging limiting face to face contact and therefore ask members to communicate with PERA via email and phone whenever possible. PERA will also set up secure drop off boxes in our Albuquerque and Santa Fe offices for members who would like to limit their in-person interactions. PERA is following a Business Continuity Plan and we are prepared to continue regular monthly benefit payments to our retired members. Effective immediately, all PERA Outreach Seminars will be canceled at this time and rescheduled tentatively for May 2020. We apologize for any inconvenience this may cause but we are dedicated to keeping our members healthy and safe.

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Pensions & Investments Webinar with PERA CIO, Dominic Garcia - A fresh Look at Risk Parity

Though solidified in 2019 thanks to the stock market rally, pension plan funded levels remain a challenge. But help is on the way. Breakthroughs in risk parity benchmarking have led to new insights into and applications of risk parity in institutional portfolios. This webinar will help plan sponsors of any size better understand both the risk and opportunity of integrating active or passive risk parity into their portfolios. The webinar features Dominic Garcia, PERA CIO who talks about embracing risk parity from contemplation to implementation.

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Dominic Garcia awarded the AIF Global's Institutional Governance Excellence Award

Dominic was recently awarded with the AIF Global’s Institutional Governance Excellence Award. This is a very prestigious award as AIF Global focuses on institutional investment policy and whose target audience includes chief and senior investment officers of some of the world’s largest institutional pension and superannuation plans. When speaking with Melissa Waller, the AIF Institute President, she expressed what an honor it was for them to be able to recognize him. We are very proud of all the great work him and his team are doing for PERA and its members.

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Dominic Garcia: From Mentee to Mentor

CIO discusses innovations and learning experiences from his Wisconsin days, and how he brings it all to his fund.

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Chief Investment Officers Recognized in Top National List

The Chief Investment Officers of both of the state’s public pension plans – the Public Employee Retirement Association (PERA) and the New Mexico Educational Retirement Board (NMERB) -- have been named among the top 30 public pension chief investment officers in the nation.

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Job Opportunity as Investment Associate

The Public Employees Retirement Association of New Mexico (PERA) is a multi-employer public pension plan serving 90,000+ members with an externally managed portfolio of approximately $15.8 billion, including PERA SmartSave, a supplemental deferred compensation 457b plan, with approximately 22,800 participants and $643 million in assets. The mission of the Board of PERA is to preserve, protect, and administer the Trust to meet its current and future obligations and provide quality services to Association members.

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Letter from NM State Auditor, Brian Colón to PERA Board of Trustees

The Office of the State Auditor (OSA) received complaints containing allegations of fraud and misconduct, including with regard to pay increases of PERA executive staff and its Executive Director. Based on the information received and evaluated at this time related to allegations of improper pay raises, the OSA did not review supporting information that would have substantiated the allegations. However, what was identified is actual conflict between the applicable statutes, administrative code rules, and policies and procedures of the PERA Board of Trustees (“Board”). The Board should take immediate steps to resolve the conflict between applicable law, administrative rules, and Board policies and procedures to prevent these issues from recurring.

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Governor Releases Executive Order Regarding PERA Solvency Task Force

On February 18, 2019, Governor Michelle Lujan Grisham signed an Executive Order calling for a nineteen member Solvency Task Force to provide recommendations to address PERA’s $6.0 billion unfunded liability.

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