Solvency Task Force

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

The Solvency Task Force will be responsible for providing a set of recommendations to the Office of the Governor no later than August 30, 2019. These recommendations must address the actuarially certified projection, employer and employee contribution levels by Division, and the PERA governance structure. This Task Force must consider these recommendations to be actuarially sound, preserve the defined benefit offered by PERA, and also ensure intergenerational equity for current and future PERA members and retirees.

PERA’s Board Chair, Jacquelin Kohlasch, along with Executive Director Wayne Propst and Chief Investment Officer Dominic Garcia will serve as Task Force members. Other Task Force members include a representative from the following entities:

• New Mexico House of Representatives
• New Mexico State Senate
• New Mexico Investments & Pensions Oversight Committee
• Retired Public Employees of New Mexico
• Fraternal Order of Police
• National Association of Police Organizations
• New Mexico State Police Association
• New Mexico Sheriffs’ Association
• New Mexico Professional Fire Fighters Association
• Albuquerque Fire Department Retirees’ Association
• American Federation of State County & Municipal Employees
• Communication Workers of America
• New Mexico Counties
• New Mexico Municipal League

The Executive Advisor to the Governor for Labor Management Affairs will serve as Chair of the PERA Solvency Task Force. The final recommendations are to be presented during the 2020 Legislative Session.

For more information visit http://www.governor.state.nm.us/about-the-governor/executive-orders/

The PERA Solvency Task Force had an organizational first meeting on Wednesday, April 17, 2019 in the Governor's Cabinet Room. The schedule of Task Force meetings are as follows, all meetings to begin at 10:00 a.m.