SENATE JOINT MEMORIAL 17

46th legislature - STATE OF NEW MEXICO - second session, 2004

INTRODUCED BY

Mary Jane M. Garcia

A JOINT MEMORIAL

REQUESTING THAT THE EDUCATIONAL RETIREMENT ASSOCIATION PROVIDE A COST-OF-LIVING BENEFIT INCREASE FOR RETIREES.

     WHEREAS, New Mexico educational retiree association retirees under the age of sixty-five face financial difficulties because they may experience as many as fifteen years of retirement before qualifying for a cost-of-living increase; and

     WHEREAS, the costs of medical, dental and vision insurance premiums have increased dramatically each year and this has resulted in reductions in educational retirement association benefits; and

     WHEREAS, in light of the recent educational reforms in the state, it is imperative to the effort to recruit and retain quality public school teachers that cost-of-living benefits be recognized as a priority of the state's retirement program;

     NOW, THEREFORE, BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO that the educational retirement association provide a three-percent annual cost-of-living benefit increase for educational retirement association retirees; and

     BE IT FURTHER RESOLVED that a copy of this memorial be transmitted to the educational retirement association.

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