Cost-of-living Adjustment For Retirees

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Plain-English Summary

This bill provides a temporary cost-of-living adjustment for certain retired public employees in New Mexico. It would increase pension benefits by 1.68% for qualified retirees aged 65 and older during fiscal years 2027 and 2028. The bill also appropriates $10 million from the general fund to the public employees retirement association to cover these adjustments.

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