SANTA FE, N.M. (AP) — The Public Employees Retirement Association has selected Wayne Propst as its top administrator for the pension system serving New Mexico government employees.
The pension board announced Friday that Propst will become executive director of the $12 billion retirement fund effective May 14.
Propst has been executive director of the New Mexico Retiree Health Care Authority since August 2008.
He succeeds Terry Slattery, who left last year for a job with a retirement program in Iowa. Kurt Weber has been serving as PERA's interim executive director.
Propst takes over as the board and the Legislature consider possible changes in benefits and retirement eligibility to shore up the fund's long-term finances.
The pension system covers about 64,000 active public employees, including state and municipal workers, judges and legislators, and about 31,000 retirees.
Copyright 2012 The Associated Press.