News & Announcements
Governor Releases Executive Order Regarding PERA Solvency Task Force
February 21, 2019
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.
"I am encouraged by the Governor's willingness to work with all stakeholders, including the PERA Board, to develop meaningful solutions to our very real solvency challenges. It takes courage to lead and the Governor has certainly shown courage on this issue. I pledge all of the resources of PERA to assist the Task Force in successfully completing its work," PERA Board Chair Jacquelin Kohlasch. said.
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.