Our ERB Cost of Living Allowance (COLA) doesn’t come close to covering inflation. The longer you have been retired or the lower your earnings while working, the greater the crisis!
The AFT New Mexico Retirees have worked through the summer with NEA, the NMAER and the UNM Retiree Association, talking with legislators to guarantee that legislative committees hear from us. We call the group the “13th Checkers” because a “13th check” could be one step to giving some relief.
On August 5th we presented to the IPOC (Investments and Pensions Oversight Committee). This was the first step in organizing for legislation that will address the inequity and insufficiency of our ERB benefits and COLA.
The committee has a number of supportive legislators and heard the concern, but we are a long way from the finish line.