A state task force is considering ways to help more workers in New Mexico save for retirement. According to a 2016 study, more than half of private-sector workers in the state do not have a way to save for their future through payroll deductions.
AARP New Mexico encouraged lawmakers to create the task force during the 2017 legislative session. State Treasurer Tim Eichenberg (D) is leading the effort to find ways to bolster savings. The group’s recommendations are due to state leaders in July 2018.
“Retirement security not only allows people to live with dignity and have choices after they stop working, it also saves taxpayer dollars,” said DeAnza Valencia, AARP state advocacy director. “If people are financially secure, the state spends less on providing assistance.”