New Mexico pension plans among most underfunded

According to a newly-published report from Pew Center on the States New Mexico’s pension systems are among the worst funded in the US.

You can find the full report here. RGF president Paul Gessing offered comments on the issue for The Center Square here. You can see how New Mexico’s pension obligations stack up below:

One quick note, in 2020 Rio Grande Foundation worked with a bipartisan coalition in support of GOOD PERA reforms. In 2021 the Legislature decided to prop up ERB with more tax dollars. Regardless, it would seem that with record levels of oil and gas revenues putting our pension systems on firm footing and making them work for taxpayers and educators/public employees who might want to manage their own retirement $$ would be a wise thing to do.