New Mexico legislation · 2026 Regular Session
New Mexico HB242: COST-OF-LIVING ADJUSTMENT FOR RETIREES
Status: In committee, January 29, 2026
What the bill says
An act relating to public employee pensions; providing a temporary cost-of-living adjustment for certain retired members; making an appropriation.
From the introduced text, January 29, 2026:
AN ACT RELATING TO PUBLIC EMPLOYEE PENSIONS; PROVIDING A TEMPORARY COST-OF-LIVING ADJUSTMENT FOR CERTAIN RETIRED MEMBERS; MAKING AN APPROPRIATION. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: SECTION 1. Section 10-11-118 NMSA 1978 (being Laws 2020, Chapter 11, Section 61) is amended to read: "10-11-118. COST-OF-LIVING ADJUSTMENTS--QUALIFIED PENSION RECIPIENT--DECLINING INCREASE.-- A. As used in this section: (1) "cost-of-living adjustment hurdle rate" means the investment rate of return required to fund a cost-ofliving adjustment in excess of one-half percent, as determined by the association's actuaries; (2) "funded ratio" means the ratio of the .232754.4 wen = lairetam derocsrednu eteled = ]lairetam detekcarb[ actuarial value of the assets of the fund to the actuarial accrued liability of the association for payments from the fund, as determined by the association's actuaries; (3) "preceding calendar year" means the full calendar year preceding the July 1 on which pensions are being adjusted; and (4) "smoothed investment rate of return" means a calculation made by spreading the difference between the expected actuarial value in investment income and the actual market value investment income over a smoothing period, as determined by the association's actuaries. B. A qualified pension recipient is eligible for a cost-of-living pension adjustment. A qualified pension recipient is: (1) a normal retired member who has been retired for at least …
Sponsors
- Alan T. Martinez (R, HD-023) · primary sponsor
- Cynthia Borrego (D, HD-017)
- Joseph Sanchez (D, HD-040)
- Tara L. Lujan (D, HD-048)
Latest actions
- : Sent to HLVMC - Referrals: HLVMC/HAFC
- : Action Postponed Indefinitely
Subjects: OFFICERS & EMPLOYEES, PUBLIC, EMPLOYER & EMPLOYEE (including workers' comp)
Common questions
- What is HB242?
- HB242 is a bill in the New Mexico Legislature (2026 Regular Session): COST-OF-LIVING ADJUSTMENT FOR RETIREES.
- What does HB242 do?
- In its own words: An act relating to public employee pensions; providing a temporary cost-of-living adjustment for certain retired members; making an appropriation.
- What is the status of HB242?
- In committee as of January 29, 2026. Latest action: Sent to HLVMC - Referrals: HLVMC/HAFC (January 29, 2026).
- Who sponsored HB242?
- Alan T. Martinez (R, HD-023), with 3 co-sponsors.
- Where is the official record for HB242?
- On the New Mexico Legislature website: https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legType=B&legNo=242&year=26
Source: official New Mexico record. Tracked by Delilah, AI for legislation across all 50 states and Congress.