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Friday, September 20, 2024

New Mexico reports $1.5 million in public pension contributions in 2022

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Lieutenant Governor Howie Morales | nm.gov Official Website

Lieutenant Governor Howie Morales | nm.gov Official Website

In 2022, New Mexico had received $1.5 million in contributions to its public pension funds, according to data obtained from the U.S. Census Bureau's Annual Survey of Public Pensions.

All contributions were made to state government pension funds.

The survey includes public pensions sponsored by local and state government entities with employees who are compensated with public funds. The local governments include counties, townships, school districts and special districts.

The data gathered includes revenues, expenditures, financial assets, membership and liabilities information.

It's worth noting that residents in Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming are not subject to state income taxes.

The Census Bureau cautions that not all respondents answer all survey questions. Thus, some fields were left blank.

New Mexico reported data from five pension systems. The total number of pension system members was 295,126.

Contributions to New Mexico's public pension funds
LocalStateLocal & State
Employee contributions$0$658,303$658,303
Government contributions$0$857,976$857,976
Total Contributions$0$1,516,279$1,516,279
Source: US Census Bureau

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