PUBLIC EMPLOYEE PENSION CHANGES

HB 416 clarifies and corrects inconsistencies in New Mexico's public employee pension system. It specifically addresses disability retirement procedures, survivor pension rules, and overpayment collection processes, while also clarifying pension calculations for certain public regulation commissioners. The bill aims to streamline administrative processes for the Public Employees Retirement Association and Educational Retirement Board, including allowing information sharing about reciprocity retirees. However, the bill was postponed indefinitely in June 2025 and did not advance to become law. This is primarily an administrative clarification bill affecting public employees and retirees covered under New Mexico's pension systems.