Senate Bill 303, sponsored by Sen. Antoinette Sedillo Lopez, if enacted into law, will change the Educational Retirement Board membership composition. The board membership would increase from seven members to nine members. Additional members joining the Board would be one member elected by members of the American Federation of Teachers New Mexico and the Secretary of Higher Education, or a designee of the secretary.
The NMERB Board of Trustees, during its Board Meeting on February 19, 2021, voted to “take no position on this bill while we request that a study be done to look at the membership of the ERB board.”