ALBUQUERQUE, N.M. (AP) — University of New Mexico employees would get smaller paychecks while retirees would pay higher premiums under a task force's recommendations for covering the rising costs of retiree health benefits.
The recommendations submitted to the university's regents include requiring employees and the university to make payments into a new trust fund.
Workers would pay half of 1 percent of their salary in the first year and 1 percent by the third year. That money and university matches would go into the new trust fund.
According to the Albuquerque Journal, the recommendations also include increasing retirees' share of premiums to 60 percent from the current 47 percent. That would reduce the university's share.