SANTA FE, N.M. (AP) - New Mexico’s state treasurer is renewing accusations that past pay raises were not properly approved for the executive director at a state public pension fund.
In a public letter, Democratic State Treasurer Tim Eichenberg on Thursday described recent staff pay raises at the Public Employees Retirement Association as illegal and renewed calls for an investigation by the attorney general.
Eichenberg sits on the board of the pension fund for state and local government workers and alleges that executive director Wayne Probst violated his fiduciary duty by accepting raises without approval of the full board. Probst says staff at the retirement association have been compensated in accordance with the law.
The office of Attorney General Hector Balderas said Thursday that the allegations are being reviewed thoroughly and are of concern.
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