You are here: Home News Most APS Employees Are Contributing More to Their Pension
Posted June 13, 2013

Note: This news item is more than a year old. Browse for more current news.

Most APS Employees Are Contributing More to Their Pension

The increase for employees earning $20,000 a year went into effect July 1.

APS employees who earn $20,000 a year or more are contributing a little more of each paycheck to their retirement fund as of July 1.

The annual employee contribution for those making $20,000 a year went from 9.4 percent to 10.1 percent. That amounts to $10.77 per paycheck for employees making $40,000 a year.

Employees who make less than $20,000 a year stayed at their current contribution rate of 7.9 percent.

The increase is part of an effort to improve the sustainability of the retirement fund for New Mexico educators. The employee contribution for those making $20,000 or more is scheduled to increase again next year to 10.7 percent.

The state Legislature provided funding for 1 percent pay raises for school district employees this year, which may help offset the increased retirement contribution. Employee pay is discussed as part of negotiations with the district’s six collective bargaining units.

For more information on retirement contributions, go to the New Mexico Educational Retirement Board website at www.nmerb.org.

Document Actions
Filed under:
News
Student of the Week Uriel Ortega
A fifth grader at Alameda Elementary School
Celebrating the Past, Present and Future
Some of the best students and teachers in Albuquerque Public Schools were honored during the inaugural Gold Bar Gala sponsored by the APS Education Foundation.
Sandia Mountain Natural History Center Turns 50!
For five decades, APS fifth graders have visited the ecological classrooms and hiked the trails of the center located in Cedar Crest just east of Albuquerque.
Teacher of the Month Maria Ladd, College & Career HS
Pepsi and the APS Education Foundation recognize some of our outstanding teachers.
Ernie Pyle Gets $15,000 for Warrior Student Success Center
The middle school is the recipient of this year's Walmart Blue Sky Grant.