New Mexico Legislators pass bill to receive pensions
New Mexico lawmakers are going to see a 50% increase in retirement payouts. The governor has already signed that bill into law, but critics say that the increase was passed quietly.”It would have been nice to have a more robust public debate on this issue. It’s definitely something that flew under our radar screen,” said Paul Gessing the president of the Rio Grande Foundation a government watchdog group.Gessing told KOAT that his group advocates for “good government.””Somebody who’s a taxpayer in New Mexico, who wants to see the legislature be more effective, I definitely would rather pay for the time that they’re actually serving, rather than the pension,” said Gessing. Action 7 News On The Go: Download our app for freeNew Mexico is the only state in the country to have an unsalaried legislature, meaning that those lawmakers aren’t getting paid every time they’re in session.”What job is going to let you off for 30 days or 60 days? And a lot of our work is done during the interim sessions,” said Sen. Harold Pope.While Pope voted against the bill, he understands why it was passed. “I will say people need to understand. they’ve sacrificed a lot of years to do this. And so in a way, they also need support for the rest of their lives as well,” said Pope.Come May 15 legislators will be getting a boost in their retirement pension.The previous payout was $1,940 for each year of service. Now, new retirees will be paid $2,911 for every year they served in the legislature.The measure slipped through both the Senate and House in a matter of five days during the recent 30-day session.But, not everyone was for it.”I want to see reform where there’s a paid legislature where we can actually serve our constituents better. And we could have staff to work on these bills to do constituent services. So that’s why I didn’t vote for it,” said Pope.There are restrictions to the new pensions raise.Follow us on social: Facebook | Twitter | Instagram | YouTubeTo qualify, a member must serve at least 10 years in the legislature.They also must pay $1,000 to a pension fund each year they serve.We reached out to the sponsors of the bill but did not hear back.The new calculation only applies to future retirees on or after the effective date of the bill.The governor’s office sent us this statement. “Taxpayers will not be affected. The Legislative Retirement Fund is funded through contributions from each participating legislator as well as distributions from tax revenue collected under the Oil and Gas Proceeds and Pass-Through Entity Withholding Tax Act. Entities from out of state fund this distribution.”Stay updated on the latest from the Roundhouse in Santa Fe and from Washington with updates on the KOAT app. You can download it here.
SANTA FE, N.M. —
New Mexico lawmakers are going to see a 50% increase in retirement payouts.
The governor has already signed that bill into law, but critics say that the increase was passed quietly.
“It would have been nice to have a more robust public debate on this issue. It’s definitely something that flew under our radar screen,” said Paul Gessing the president of the Rio Grande Foundation a government watchdog group.
Gessing told KOAT that his group advocates for “good government.”
“Somebody who’s a taxpayer in New Mexico, who wants to see the legislature be more effective, I definitely would rather pay for the time that they’re actually serving, rather than the pension,” said Gessing.
Action 7 News On The Go: Download our app for free
New Mexico is the only state in the country to have an unsalaried legislature, meaning that those lawmakers aren’t getting paid every time they’re in session.
“What job is going to let you off for 30 days or 60 days? And a lot of our work is done during the interim sessions,” said Sen. Harold Pope.
While Pope voted against the bill, he understands why it was passed.
“I will say people need to understand. they’ve sacrificed a lot of years to do this. And so in a way, they also need support for the rest of their lives as well,” said Pope.
Come May 15 legislators will be getting a boost in their retirement pension.
The previous payout was $1,940 for each year of service. Now, new retirees will be paid $2,911 for every year they served in the legislature.
The measure slipped through both the Senate and House in a matter of five days during the recent 30-day session.
But, not everyone was for it.
“I want to see reform where there’s a paid legislature where we can actually serve our constituents better. And we could have staff to work on these bills to do constituent services. So that’s why I didn’t vote for it,” said Pope.
There are restrictions to the new pensions raise.
Follow us on social: Facebook | Twitter | Instagram | YouTube
To qualify, a member must serve at least 10 years in the legislature.
They also must pay $1,000 to a pension fund each year they serve.
We reached out to the sponsors of the bill but did not hear back.
The new calculation only applies to future retirees on or after the effective date of the bill.
The governor’s office sent us this statement.
“Taxpayers will not be affected. The Legislative Retirement Fund is funded through contributions from each participating legislator as well as distributions from tax revenue collected under the Oil and Gas Proceeds and Pass-Through Entity Withholding Tax Act. Entities from out of state fund this distribution.”
Stay updated on the latest from the Roundhouse in Santa Fe and from Washington with updates on the KOAT app. You can download it here.
