UNM Reconsiders Retiree Health Cost Changes

Apr 10, 2013

University of New Mexico regents have approved a task force's recommendations for steps proposed to cover rising costs of retiree health benefits.

The recommendations include requiring employees and the university to make payments into a new trust fund and increasing retirees' share of premiums.

The Albuquerque Journal reports the regents revisited the issue Tuesday afternoon after initially refusing to vote on the proposals.

The vote was at the urging of UNM Vice President David Harris.

The task force had been asked to reduce the university's future unfunded liability by 50 percent. The school estimates the cost of covering retiree health benefits will soar to $162 million in 30 years. Their final plan reduced the unfunded liability by 52 percent, or $85 million.