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American Association of University Professors New Mexico Conference
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Academic Freedom for a Free Society
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2004 Legislative Priorities
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A salary increase of 4% for all employees ar institutions of higher education, as recommended by the New Mexico Council of University Presidents
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Full Formula Funding
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Minimum Tuition Credit
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Funding for Building and Equipment Maintenance
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RETIREMENT ISSUES
There has been extensive coverage in the press in the last year about the "deficit" in the Educational Retirement Fund. The Educational Retirement Board (ERB) has emphasized that there are ample funds to pay benefits for at least 25 years, but the decline in the stock market 2-3 years ago hurt the fund.
Bills have been introduced in the NM Legislature by Sen. John Arthur Smith and Rep. John Heaton calling for a series of increases in employer contributions over the next several years, changes in conditions of retirement, and changes in the ERB.
Increases in employer contribution to the fund must be accompanied by adequate funding or they will likely result in little or no compensation increase.
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