# New Mexico SB 75: EDUCATIONAL RETIREMENT CHANGES New Mexico SB 75, EDUCATIONAL RETIREMENT CHANGES, is a 2025 Regular Session Senate bill sponsored by Natalie Figueroa (Democratic); status signed, last action 2025-03-20 (Signed by Governor - Chapter 6 - Mar. 20); PRIA reads it as touching household money (as of 2026-10-16). - Canonical: https://policyrisk.com/state-bill/NM-SB75-2025 - As of: 2026-10-16 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: New Mexico SB 75 - State: New Mexico - Session: 2025 Regular Session - Title: EDUCATIONAL RETIREMENT CHANGES - Status: signed - Chamber: Senate - Introduced: 2025-01-22 - Last action: 2025-03-20, Signed by Governor - Chapter 6 - Mar. 20 - Sponsor: Natalie Figueroa (Democratic) - Cosponsors: 0 - Touches household money: yes - Roll calls: 2 (98 yes, 0 no in all) - Economic provisions PRIA read: 5 ## Summary No summary available. ## Bill overview: provisions PRIA read - School retirement records get privacy protections: benefit, low. The retirement board, its workers, and contractors generally cannot release members’ or retirees’ protected information to the public. The law keeps exceptions for specified employment, service, salary, benefit, and contribution data. Members, spouses, authorized representatives, and people named i… - School retirement funds get dedicated accounts: benefit, low. The law creates a main educational retirement fund and a separate account for money recovered through private attorneys. The state treasurer holds the funds, and the retirement board serves as trustee. The main fund receives member fees, worker and employer contributions, investments, unclaimed con… - School workers face five-year retirement minimum: mixed, high. New Mexico educational retirement members generally need five years of employment with retirement contributions to qualify for benefits. Members retiring sooner cannot receive more than the maximum benefit available under the law replaced by the Educational Retirement Act. Members can buy up to fiv… - School retirees get funding-based yearly increases: mixed, medium. Beginning July 1, 2013, yearly educational retirement benefit increases depend on inflation and the retirement fund’s finances. When the fund is at least 100% funded, the formula uses inflation below 2%, or half of inflation otherwise. The resulting increase has a 2% floor and a 4% cap. Above 90% b… - School workers can buy prior service credit: mixed, medium. Educational retirement members can receive free credit for listed federal education work in New Mexico before July 1, 1967. Military service interrupting New Mexico work also counts without payment after honorable discharge and return to New Mexico employment within 18 months. Buying other military… ## Sponsors and cosponsors - Sponsor: Natalie Figueroa (Democratic), Senate ## Roll call votes | Date | Chamber | Motion | Result | Yes | No | Other | | --- | --- | --- | --- | --- | --- | --- | | 2025-03-15 | House | Final House Vote | pass | 64 | 0 | | | 2025-02-13 | Senate | Final Senate Vote | pass | 34 | 0 | | ## Actions (9) - 2025-03-20: Signed by Governor - Chapter 6 - Mar. 20 (Senate) - 2025-03-15: Passed in the House of Representatives - Y:64 N:0 (House) - 2025-03-12: HGEIC: Reported by committee with Do Pass recommendation (House) - 2025-03-01: HEC: Reported by committee with Do Pass recommendation (House) - 2025-02-21: Sent to HEC - Referrals: HEC/HGEIC (Senate) - 2025-02-13: Passed in the Senate - Y:34 N:0 (Senate) - 2025-02-11: SFC: Reported by committee with Do Pass recommendation (Senate) - 2025-02-03: SEC: Reported by committee with Do Pass recommendation with amendment(s) (Senate) - 2025-01-22: Sent to SEC - Referrals: SEC/SFC (Senate) ## Bill text - Final Version, 2025-03-20: [PDF](https://www.nmlegis.gov/Sessions/25%20Regular/final/SB0075.pdf) - HGEIC Committee Report 3/12/25, 2025-03-12: [PDF](https://www.nmlegis.gov/Sessions/25%20Regular/bills/senate/SB0075GE1.pdf) - HEC Committee Report 3/01/25, 2025-03-01: [PDF](https://www.nmlegis.gov/Sessions/25%20Regular/bills/senate/SB0075EC1.pdf) - SFC Committee Report 2/11/25, 2025-02-11: [PDF](https://www.nmlegis.gov/Sessions/25%20Regular/bills/senate/SB0075FC1.pdf) - SEC Committee Report 2/03/25, 2025-02-03: [PDF](https://www.nmlegis.gov/Sessions/25%20Regular/bills/senate/SB0075ED1.pdf) - Introduced, 2025-01-22: [HTML](https://www.nmlegis.gov/Sessions/25%20Regular/bills/senate/SB0075.html), [PDF](https://www.nmlegis.gov/Sessions/25%20Regular/bills/senate/SB0075.pdf) ## Related bills - HB 2: GENERAL APPROPRIATION ACT OF 2025 (signed) - SB 45: COUNTY HEALTH CARE ASSISTANCE FUND USE (signed) - SB 343: TEACHER SALARY RATES CHANGES (signed) - SB 345: TEACHER & INSTRUCTIONAL SUPPORT LICENSURE (signed) - SB 133: EDUCATIONAL RETIREES RETURNING TO WORK (signed) - HB 157: NEW SCHOOL LICENSES (signed) ## Sources - [Final Version (PDF)](https://www.nmlegis.gov/Sessions/25%20Regular/final/SB0075.pdf) - [HGEIC Committee Report 3/12/25 (PDF)](https://www.nmlegis.gov/Sessions/25%20Regular/bills/senate/SB0075GE1.pdf) - [HEC Committee Report 3/01/25 (PDF)](https://www.nmlegis.gov/Sessions/25%20Regular/bills/senate/SB0075EC1.pdf) - [SFC Committee Report 2/11/25 (PDF)](https://www.nmlegis.gov/Sessions/25%20Regular/bills/senate/SB0075FC1.pdf) - [SEC Committee Report 2/03/25 (PDF)](https://www.nmlegis.gov/Sessions/25%20Regular/bills/senate/SB0075ED1.pdf) - [Introduced (HTML)](https://www.nmlegis.gov/Sessions/25%20Regular/bills/senate/SB0075.html) - [Introduced (PDF)](https://www.nmlegis.gov/Sessions/25%20Regular/bills/senate/SB0075.pdf) ## Related - [HB 2: GENERAL APPROPRIATION ACT OF 2025](https://policyrisk.com/state-bill/NM-HB2-2025) - [SB 45: COUNTY HEALTH CARE ASSISTANCE FUND USE](https://policyrisk.com/state-bill/NM-SB45-2025) - [SB 343: TEACHER SALARY RATES CHANGES](https://policyrisk.com/state-bill/NM-SB343-2025) - [SB 345: TEACHER & INSTRUCTIONAL SUPPORT LICENSURE](https://policyrisk.com/state-bill/NM-SB345-2025) - [SB 133: EDUCATIONAL RETIREES RETURNING TO WORK](https://policyrisk.com/state-bill/NM-SB133-2025) - [HB 157: NEW SCHOOL LICENSES](https://policyrisk.com/state-bill/NM-HB157-2025) - [New Mexico bills](https://policyrisk.com/states/new-mexico/bills) - [New Mexico state hub](https://policyrisk.com/states/new-mexico) - [All state legislation](https://policyrisk.com/state-bills) Source: PRIA, https://policyrisk.com/state-bill/NM-SB75-2025 (as of 2026-10-16).