New Mexico legislation · 2026 Regular Session
New Mexico HB40: TEMPORARY ERB MEMBER PAYMENT
Status: In committee, January 28, 2026
What the bill says
An act relating to educational retirement; providing a temporary, additional, non-compounding payment to retired members under the educational retirement act; making an appropriation.
From the introduced text, January 6, 2026:
AN ACT RELATING TO EDUCATIONAL RETIREMENT; PROVIDING A TEMPORARY, ADDITIONAL, NON-COMPOUNDING PAYMENT TO RETIRED MEMBERS UNDER THE EDUCATIONAL RETIREMENT ACT; MAKING AN APPROPRIATION. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: SECTION 1. Section 22-11-31 NMSA 1978 (being Laws 1979, Chapter 333, Section 2, as amended) is amended to read: "22-11-31. COST-OF-LIVING ADJUSTMENT--ELIGIBILITY-- BASED ON FUNDED RATIO--ADDITIONAL CONTRIBUTIONS.-- A. For the purposes of this section: (1) "adjustment factor" means a multiplicative factor computed to provide an annuity adjustment pursuant to the provisions of Subsection B of this section; (2) "annuity" means any benefit payable under the Educational Retirement Act or the Public Employees .233018.1SA wen = lairetam derocsrednu eteled = ]lairetam detekcarb[ Retirement Reciprocity Act as a retirement benefit, disability benefit or survivor benefit; (3) "calendar year" means the full twelve months beginning January 1 and ending December 31; (4) "consumer price index" means the average of the monthly consumer price indexes for a calendar year for the entire United States for all items as published by the United States department of labor; (5) "funded ratio" means the ratio of the actuarial value of the assets of the fund to the actuarial accrued liability of the educational retirement system; (6) "median adjusted annuity" means the median value of all annuities and retirement benefits paid pursuant to …
Sponsors
- Cynthia Borrego (D, HD-017) · primary sponsor
- Elizabeth "Liz" Stefanics (D, SD-039)
- Joseph Sanchez (D, HD-040)
- Nicole Chavez (R, HD-031)
- Tara L. Lujan (D, HD-048)
Latest actions
- : HEC: Reported by committee with Do Pass recommendation
- : Sent to HEC - Referrals: HEC/HAFC
- : Action Postponed Indefinitely
- : Sent to HPREF - Referrals: HPREF
Subjects: SENIOR CITIZENS, OFFICERS & EMPLOYEES, PUBLIC, EDUCATION, OTHER
Common questions
- What is HB40?
- HB40 is a bill in the New Mexico Legislature (2026 Regular Session): TEMPORARY ERB MEMBER PAYMENT.
- What does HB40 do?
- In its own words: An act relating to educational retirement; providing a temporary, additional, non-compounding payment to retired members under the educational retirement act; making an appropriation.
- What is the status of HB40?
- In committee as of January 28, 2026. Latest action: HEC: Reported by committee with Do Pass recommendation (January 28, 2026).
- Who sponsored HB40?
- Cynthia Borrego (D, HD-017), with 4 co-sponsors.
- Where is the official record for HB40?
- On the New Mexico Legislature website: https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legType=B&legNo=40&year=26
Source: official New Mexico record. Tracked by Delilah, AI for legislation across all 50 states and Congress.