NM HB41

Qualified pension recipients under the Public Employees Retirement Act receive a temporary 2% annual, non-compounding additional payment during fiscal years 2027 and 2028

Qualified recipients include normal retirees (retired at least 2 years or age 65+ with 1 year), disability retirees (1+ year), and survivor beneficiaries (2+ years receiving benefits)

$70,000,000 appropriated from the general fund to the Public Employees Retirement Association for fiscal year 2027 and subsequent years to fund these payments

Unexpended balances do not revert to the general fund at the end of each fiscal year

Recipients may decline the increase by providing written notice to the association at least 30 days before the effective date