New Mexico established a retirement system for its public employees in 1947. Today, PERA manages 31 retirement plans and two benefit tiers for state, municipal and county employees. This includes police, firefighters, judges, magistrates, legislators and volunteer firefighters. The association also manages retirement plans for other political subdivisions, such as special districts and housing authorities.In 2025 ,the average annual pension was $32,125 for the PERA Fund.