NM Stat § 10-11-38.5 (2021)
2021 New Mexico Statutes|Chapter 10 - Public Officers and Employees|Article 11 - Retirement of Public Officers and Employees Generally|Section 10-11-38.5 - Juvenile correctional officer member coverage plan 2; member contribution rate.

A member under juvenile correctional officer member coverage plan 2 shall contribute four and seventy-eight hundredths percent of salary starting with the first full pay period that ends within the calendar month in which juvenile correctional officer member coverage plan 2 becomes applicable to the member, except that a member whose annual salary is greater than twenty-five thousand dollars ($25,000) shall contribute:A. beginning July 1, 2020 and continuing through June 30, 2021, six and seventy-eight hundredths percent of salary;B. beginning July 1, 2021 and continuing through June 30, 2022, seven and twenty-eight hundredths percent of salary;C. beginning July 1, 2022 and continuing through June 30, 2023, seven and seventy-eight hundredths percent of salary; andD. beginning July 1, 2023 and thereafter, eight and twenty-eight hundredths percent of salary.History: Laws 1994, ch. 128, § 13; 2009, ch. 127, § 5; 2011, ch. 178, § 5; 2013, ch. 225, § 28; 2020, ch. 11, § 14.ANNOTATIONSThe 2020 amendment, effective July 1, 2020, increased member contribution rates by .5 percent each year for four years for members whose annual salary is greater than twenty-five thousand dollars, and increased the salary amount applicable to the increased member contribution rate; in the introductory clause, after "greater than", deleted "twenty thousand dollars ($20,000)" and added "twenty-five thousand dollars ($25,000)", and after "shall contribute", deleted "six and twenty-eight hundredths percent of salary"; and added Subsections A through D.Temporary provisions. — Laws 2020, ch. 11, § 64 provided that on or before May 1, 2021, the retirement board shall conduct an election to submit to juvenile correctional officer members currently contributing under juvenile correctional officer member coverage plan 2 the question of adopting state police member, correctional officer member and probation and parole officer member coverage plan 1. The election shall be conducted in accordance with procedures adopted by the retirement board, and the retirement board shall certify the results of the election to the secretary of state on or before July 1, 2021.The 2013 amendment, effective July 1, 2013, applied the member contribution rate under member coverage plan 2 to juvenile correctional officers; in the title, deleted "State hazardous duty" and added "Juvenile correctional officer"; and after "under", deleted "state hazardous duty" and added "juvenile correctional officer"; deleted the entire section, which provided for employee contributions at a rate of seven and forty-two hundredths percent of salary, except for employees whose salary was greater than twenty thousand dollars who were required to pay a rate which ranged from six and twenty-eight hundredths percent beginning July 1, 2009, eight and three-hundredths percent beginning July 1, 2011, and six and twenty-eight hundredths percent beginning July 1, 2012; and added the current language. Severability. — Laws 2013, ch. 225, § 93 provided that if any part or application of Laws 2013, ch. 225 is held invalid, the remainder or its application to other situations or persons shall not be affected. The 2011 amendment, effective July 1, 2011, for the period from July 1, 2011 through June 30, 2012, increased the member contribution rate for members whose annual salary is more than twenty thousand dollars. The 2009 amendment, effective July 1, 2009, added the exception at the end of the sentence.