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Feb 4, 2019

Legislative Update Feb 4, 2019, 8:00am - NMAER Russell Goff


Greetings!

This past week hearing's continued on the 48 bills in the "Rocket Docket"

Legislative Package. At the same time we  also began to see other legislation receive hearing's. One such bill was SB 14, Educational Retirement Changes. On a 7-1 vote the Senate Education Committee gave the bill a DO Pass. It next goes to the Senate Finance Committee for a hearing. Thanks for the calls to committee members. The bill had a lot of support during the committee hearing.

We have received confirmation that HB 95, Retiree Health Care Fund Contributions, will be heard in the House State Government, Election & Indian Affairs on Wednesday, February 6, 2019. The hearing is in room 305.

Thanks for all your calls and SUPPORT of HB 95!

As of February 2, 2019 there have been 1014 bills introduced.

Here are the bills we are following and their status:

> Budget

HB 2, General Appropriations Act of 2019, Rep Patricia Lundstrom.

This bill authorizes expenditures by State Agencies as required by law.

The HAFC subcommittee approved  the LFC recommendation for FY20.

LFC budget is slightly higher than the Governor's recommendation. HB 2 remains in the HAFC.

> Pension

SB 14, Educational Retirement  Changes, Sen. Stuart Ingle & Rep Tomas Salazar. To ensure fiscal strength and long-term sustainability, this bill requests eight changes to achieve full funding in a 30 year period.

This week SB 14 was heard in Senate Education Committee and was given a DO PASS. It has been referred to the Senate Finance Committee. The American Federation of Teachers Union indicated during the hearing that they would propose an amendment to reduce contributions for those making less that

$24,000 to 7.9% and eliminate the proposed minimum retirement age of 58 for those maintenance workers doing heavy work and with 25-30 years of service.

HB 50, Audit Review by Board of Finance, Rep. Rudy Martinez, Rep. Abbas Akhill & Rep. William "Bill" Pratt. This bill would require ERB, PERA & Office of the Treasurer to submit annual financial records to DFA for review. This bill is part of the "Rocket Docket" Legislative Package.  The House Judiciary Committee gave the bill a DO PASS and the House passed the bill 60 - 7. It received a DO PASS in Senate Finance Committee and the Senate passed the bill 49-0. The bill awaits the Governor's signature..

SB 57, Additional Reports by Board of Finance, Sen. Sander Rue. This bill would require  ERB, Office of the Treasurer, PERA and SIC to provide additional  information as part of the annual financial audit process. SB57 received a DO PASS in the Senate Public Affairs and is now on the Senate Finance Committee calendar.

HB 97, Local Government Investment Pool Participants, Rep. Tomas Salazar.

This bill is part of the "Rocket Docket" Legislative Package and would amend current law to specifically allow ERB, PERA and SIC to participate in the Office of State Treasurer's Local Government Investment Pool. HB 97 received a DO Pass in the House Judiciary Committee and passed the House 68-0. HB 97 received a DO PASS in the  Senate Public Affairs Committee and passed the Senate 41-0. This bill awaits the Governor's signature. .

SB 157, Sick Leave for  Educational Retirement Credit, Sen. William Soules. This bill is part of the "Rocket Docket" Legislative Package. It allows ERB members to convert sick leave to service credit. SB 157 received a DO PASS in the Senate Education Committee and the Senate passed the bill 39-0. SB 157 received a DO PASS  in the House Taxation and Revenue Committee and the House passed the bill 52-15.  The bill awaits the Governor's signature.

SB 235, Investment Performance Based Compensation, Sen Munoz. This bill would allow ERB & PERA Boards  to set compensation, including incentive based compensation for certain investment staff, thus eliminating the current requirement of compensation increases for exempt staff being approved by the Department of Finance & Administration.

SB235 has been referred to the Senate Public Affairs Committee.

HB 338, PERA Board Retirement Changes. Rep Tomas Salazar. This bill addresses the actuarial solvency of the PERA Fund  and recommended changes. HB 338 is currently in House State Government, Elections & Indian Affairs Committee.

HB 360, Educational Retirement Changes, Rep. Tomas Salazar. This bill provides changes to improve the sustainability of the Fund in a thirty year period. It is the House version of SB 14 and is currently on the House State Government, Election & Indian Affairs Committee calendar..

*SB 439, Educational Retirement Board Membership. Sen, Antoinette Sedillo Lopez. This bill would change the composition of the Educational Retirement Board from seven to nine members. The current composition includes the Secretary of Public Education or her designee, Rep. of National Education Association, Rep. of New Mexico Association of Educational Retirees, Rep. of American Association of University Professors, State Treasurer or his designee, and two Governor appointees with investment experience. The new composition would include the above and add a Rep. from the American Federation of Teachers Union, and one additional Governor Rep. with public education experience. SB 439 has been referred to the Senate Education Committee.

>Health Care

HB 95, Retire Health Care Fund Contributions, Rep. Tomas Salazar.

This bill would incrementally increase rates of the Employee and Employer to the Retiree Health Care Fund. HB 95 is in the House State Government, Election & Indian Affairs Committee and will be heard on Wednesday, February 6, 2019.

>Memorial

HM 5, New Mexico Association of Education Retiree Day, Rep. Sheryl Stapleton. HM 5 Is currently on the House calendar.

>Other

*HB 141, State Disclosure of Information, Rep Miguel P. Garcia,.This bill would prohibit state agency employees from disclosing "sensitive personal information," including a persons name. This bill has been referred to House State Government, Election & Indian Affairs Committee.

*SB 381, Add Public Record Protected Personal ID, Sen Pete Campos. This bill would prohibit the release of an email address and "any other unique identifier from which the identify of a person may be reasonably determined. SB 381 has been referred to the Senate Public Affairs Committee.

In closing, we appreciate the calls to the Senate Education Committee supporting SB 14. As was indicated we had a lot of support in the Committee hearing. As these bills proceed we will keep you informed.

Have a great week!
"Remember don't take your benefits for granted."

Stay tuned!
Russell Goff
NMAER

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