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Education pension overhaul signed

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By Barry Massey
The Associated Press

SANTA FE — Retired educators will receive smaller cost-of-living adjustments for the next 30 years under a measure approved by legislators and signed into law Friday by Gov. Susana Martinez.

The new law takes effect July 1, and also will require current teachers and other educational employees to permanently pay more into their retirement system if they earn $20,000 or more a year. There will be no payroll contribution increase for those with salaries below that amount.


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