Fiscal responsibility doesn’t stop with balancing budgets. It also means keeping the promises made to public employees who spent their careers serving New Mexico. I believe the state has a duty to protect the long-term health of our public pension systems while making sure retirees can afford to live with dignity after they stop working.
The Public Employees Retirement Board represents a long-term obligation that affects workers, retirees, and future taxpayers. When pension systems are not managed carefully, the consequences grow over time. Ignoring funding gaps or pushing costs down the road only makes the problem harder and more expensive to fix later. Addressing pension health openly and responsibly protects both retirees and the state’s financial future.
For many retirees, the biggest concern right now is the cost of living. Fixed incomes lose value fast when prices rise and retirement checks don’t keep up. Housing, utilities, food, and medical costs have climbed sharply, leaving many retired public servants struggling to stretch each dollar. Cost of Living Adjustments were meant to protect against this, but when they fall behind inflation, that protection disappears. People who planned responsibly should not be forced into financial stress late in life.
My approach has two clear priorities. First, I support requiring state pension systems to follow transparent, actuarially sound funding plans that steadily reduce long-term liabilities. This kind of discipline strengthens the system, protects benefits that have already been earned, and prevents sudden budget crises in the future. Strong pension funding is not just good policy, it’s basic stewardship.
Second, I support protecting retirees from inflation by fixing how cost of living adjustments (COLAs) are calculated. Adjustments should be tied to a clear, reliable inflation measure so they reflect real changes in the cost of living. This creates predictability for retirees and removes uncertainty from year to year. It also brings honesty into the process by aligning benefits with economic reality instead of political decisions.
Taking care of public pensions is about fairness and trust. Retirees did their part, and the state should do its part as well. With careful planning, transparency, and respect for both workers and taxpayers, New Mexico can keep its pension systems strong and protect retirees from falling behind.
