News & Announcements

PERA Executive Director, Wayne Propst to Depart

PERA Executive Director, Wayne Propst to Depart

January 25, 2021

The Chairman of the New Mexico Public Employees Retirement Association Board of Trustees, John Melia, announced on January 21, 2021 that PERA's long serving Executive Director, Wayne Propst, will be leaving PERA to work for the new Chairman of the New Mexico Senate Finance Committee, Senator George K. Munoz.

"I am very sorry to see Wayne leave after almost nine years of service to the Board and PERA members, said Chairman Melia. Wayne has led PERA through some of the most difficult challenges the Association has faced in its 74-year history and has done so with integrity, vision and compassion. His accomplishments are too numerous to list, but generations of current and future public employees and retirees in New Mexico will have Wayne to thank for his leadership and courage to face facts and not run away from the hard and difficult work of ensuring PERA's soundness and solvency."

"It has been a remarkable journey for me, Propst said. I'm leaving with the Fund at an all-time high of $16.5 billion, with having helped reduce PERA's unfunded liability by almost $800 million in this past fiscal year, and with the Fund back on a solvent path thanks to the leadership of Governor Lujan Grisham and the work of the Legislature in 2020. I will miss my colleagues at PERA deeply but feel this is the right time for me to seek out new mountains to climb. I look forward to returning to work with the state’s budget process and the opportunity to work for Senator Munoz."

"I am grateful for Wayne's willingness to come work at the Committee. I've known Wayne for more than eight years. He has earned the respect and trust of both Republicans and Democrats in the Legislature and the Committee is fortunate to have his counsel during these challenging but hopeful time for New Mexico,” said Senator Munoz.

The PERA Board will have a regular meeting on January 28, 2021 and will begin discussions on succession planning at that time.

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