reglab/statecodes huggingface dataset:
2023 New Mexico Statutes › Chapter 10 - Public Officers and Employees › Article 11 - Retirement of Public Officers and Employees Generally › Section 10-11-115.1 - Municipal detention officer member coverage plan 1; applicability.

Municipal detention officer member coverage plan 1 is applicable to municipal detention officer members on the later of July 1, 2004 or the first day of the calendar month following certification of the election adopting municipal detention officer member coverage plan 1 by an affirmative vote of the majority of the affiliated public employer's municipal detention officer members. The election shall be conducted by the affiliated public employer. The certification shall be in the form prescribed by the retirement board. The election procedures shall afford all municipal detention officer members of the affiliated public employer an opportunity to vote. An election adopting municipal detention officer member coverage plan 1 for a given affiliated public employer is irrevocable for the purpose of subsequently adopting a coverage plan that would decrease employer or employee contributions with respect to all current and future municipal detention officer members of that affiliated public employer.
History:
Laws 2003, ch. 268, § 2.
ANNOTATIONS
Effective dates.
— Laws 2003, ch. 268, § 17 made the act effective July 1, 2003.
2023 New Mexico Statutes › Chapter 10 - Public Officers and Employees › Article 11 - Retirement of Public Officers and Employees Generally › Section 10-11-115.2 - Municipal detention officer member coverage plan 1; age and service requirements for normal retirement; calculation of credited service.

A. Under municipal detention officer member coverage plan 1, for a member who was a retired member or a member on June 30, 2013, the age and service requirements for normal retirement are:
(1) age sixty-five years or older and five or more years of credited service;
(2) age sixty-four years and eight or more years of credited service;
(3) age sixty-three years and eleven or more years of credited service;
(4) age sixty-two years and fourteen or more years of credited service;
(5) age sixty-one years and seventeen or more years of credited service;
(6) age sixty years and twenty or more years of credited service; or
(7) any age and twenty-five or more years of credited service.
B. For a member who was not a retired member or a member on June 30, 2013, the age and service requirements for normal retirement are:
(1) age sixty years or older and five or more years of service credit; or
(2) any age and twenty-five or more years of service credit.
C. For the purposes of determining retirement eligibility and the amount of pension, the credited service of a municipal detention officer member who was a retired member or a member on June 30, 2013 shall be increased by twenty percent for the purposes of municipal detention officer member coverage plan 1.
D. Except as provided in Subsection C of this section, the credited service of a municipal detention officer member shall be credited as provided under Section 10-11-4 NMSA 1978.
History:
Laws 2003, ch. 268, § 3; 2013, ch. 225, § 87; 2020, ch. 11, § 58.
ANNOTATIONS
The 2020 amendment,
effective July 1, 2020, changed the service credit requirement for certain retirees; and in Subsection B, Paragraph B(1), after "older and", deleted "six" and added "five".
The 2013 amendment,
effective July 1, 2013, increased the age and service requirements for normal retirement of members who retire after June 30, 2013; in Subsection A, in the introductory sentence, after "member coverage plan 1", added "for a member who was a retired member or a member on June 30, 2013"; added Subsection B; deleted a remnant of former Subsection B, which provided that "In calculating credited service", in Subsection C, after "detention officer member", added "who was a retired member or member on June 30, 2013" and after "June 30, 2013 shall", deleted "have actual credited service" and added "be"; and added Subsection D.
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.
2023 New Mexico Statutes › Chapter 10 - Public Officers and Employees › Article 11 - Retirement of Public Officers and Employees Generally › Section 10-11-115.3 - Municipal detention officer member coverage plan 1; amount of pension; form of payment A.

Under municipal detention officer member coverage plan 1, the amount of pension under form of payment A is equal to three percent of the final average salary multiplied by credited service. The amount shall not exceed one hundred percent of the final average salary.
History:
Laws 2003, ch. 268, § 4; 2013, ch. 225, § 88; 2023, ch. 53, § 18.
ANNOTATIONS
The 2023 amendment,
effective June 16, 2023, increased the maximum amount of pension that a municipal detention officer member under coverage plan 1 is permitted to earn; and after "shall not exceed", deleted "ninety" and added "one hundred".
Applicability.
— The provisions of Laws 2023, ch. 53, § 19 apply to credited service performed after June 16, 2023. Any credited service performed or amount of pension earned prior to June 16, 2023 shall not be calculated or adjusted to conform to the provisions of Laws 2023, ch. 53.
The 2013 amendment,
effective July 1, 2013, increased the maximum pension benefit; and in the second sentence, after "shall not exceed", deleted "sixty" and added "ninety".
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.
2023 New Mexico Statutes › Chapter 10 - Public Officers and Employees › Article 11 - Retirement of Public Officers and Employees Generally › Section 10-11-115.4 - Repealed.

History:
Laws 2003, ch. 268, § 5; repealed by Laws 2009, ch. 288, § 20.
ANNOTATIONS
Repeals.
— Laws 2009, ch. 288, § 20 repealed 10-11-115.4 NMSA 1978, as enacted by Laws 2003, ch. 268, § 5, relating to municipal detention officer member coverage plan 1, final average salary, effective July 1, 2011. For provisions of former section,
see
the 2010 NMSA 1978 on
NMOneSource.com.
2023 New Mexico Statutes › Chapter 10 - Public Officers and Employees › Article 11 - Retirement of Public Officers and Employees Generally › Section 10-11-115.5 - Municipal detention officer member coverage plan 1; member contribution rate.

A member under municipal detention officer member coverage plan 1 shall contribute sixteen and sixty-five hundredths percent of salary with the first full pay period in the calendar month in which municipal detention officer member coverage plan 1 becomes applicable to the member, except that a member whose annual salary is greater than twenty-five thousand dollars ($25,000) shall contribute:
A. prior to July 1, 2022, eighteen and fifteen-hundredths percent of salary;
B. beginning July 1, 2022 and continuing through June 30, 2023, eighteen and sixty-five hundredths percent of salary;
C. beginning July 1, 2023 and continuing through June 30, 2024, nineteen and fifteen-hundredths percent of salary;
D. beginning July 1, 2024 and continuing through June 30, 2025, nineteen and sixty-five hundredths percent of salary; and
E. beginning July 1, 2025 and thereafter, twenty and fifteen-hundredths percent of salary.
History:
Laws 2003, ch. 268, § 6; 2013, ch. 225, § 89; 2020, ch. 11, § 59.
ANNOTATIONS
The 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 "eighteen and fifteen-hundredths percent of salary"; and added Subsections A through E.
The 2013 amendment,
effective July 1, 2013, increased the employee contribution rate for employees earning more than twenty thousand dollars in salary annually; deleted the entire section, which provided for employee contributions at a rate of sixteen and sixty-five hundredths percent of salary; 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.
2023 New Mexico Statutes › Chapter 10 - Public Officers and Employees › Article 11 - Retirement of Public Officers and Employees Generally › Section 10-11-115.6 - Municipal detention officer member coverage plan 1; employer contribution rate.

The affiliated public employer shall contribute the following percentages of the salary of each member under municipal detention officer member coverage plan 1 starting with the first pay period that ends within the calendar month in which municipal detention officer member coverage plan 1 becomes applicable to the member:
A. prior to July 1, 2022, seventeen and three-tenths percent of salary;
B. beginning July 1, 2022 and continuing through June 30, 2023, seventeen and eight-tenths percent of salary;
C. beginning July 1, 2023 and continuing through June 30, 2024, eighteen and three-tenths percent of salary;
D. beginning July 1, 2024 and continuing through June 30, 2025, eighteen and eight-tenths percent of salary; and
E. beginning July 1, 2025 and thereafter, nineteen and three-tenths percent of salary.
History:
Laws 2003, ch. 268, § 7; 2013, ch. 225, § 90; 2019, ch. 237, § 17; 2020, ch. 11, § 60.
ANNOTATIONS
The 2020 amendment,
effective July 1, 2020, increased affiliated public employer contribution rates by .5 percent each year for four years; in the introductory clause, after "shall contribute", deleted "seventeen and three-tenths percent" and added "the following percentages"; and added Subsections A through E.
The 2019 amendment,
effective July 1, 2019, increased employer contribution rates to the funds included under the Public Employees Retirement Act; after "shall contribute seventeen and", deleted "five hundredths" and added "three-tenths", and after "applicable to the member", deleted "except that, from July 1, 2013 through June 30, 2014, the affiliated public employer contribution rate shall be sixteen and sixty-five hundredths percent of the salary of each member".
The 2013 amendment,
effective July 1, 2013, increased the employer contribution rate; after "contribute", deleted "sixteen and sixty-five hundredths" and added "seventeen and five-hundredths"; and after "applicable to the member", added the remainder of the sentence.
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.
2023 New Mexico Statutes › Chapter 10 - Public Officers and Employees › Article 11 - Retirement of Public Officers and Employees Generally › Section 10-11-115.7 - Municipal detention officer member coverage plan 1; service credit required for municipal detention officer members.

Notwithstanding other provisions of the Public Employees Retirement Act, to qualify for retirement pursuant to municipal detention officer member coverage plan 1, a municipal detention officer member shall have eighteen months of service credit earned under that coverage plan.
History:
Laws 2003, ch. 268, § 8.
ANNOTATIONS
Effective dates.
— Laws 2003, ch. 268, § 17 made the act effective July 1, 2003.
2023 New Mexico Statutes › Chapter 10 - Public Officers and Employees › Article 11 - Retirement of Public Officers and Employees Generally › Section 10-11-118.1 - Adjustment of benefits.

A. If payment of a pension or other retirement benefit causes a decrease in the amount of monetary payments or other needs-based benefits due to a payee from any other governmental agency, the pension or other retirement benefit shall be reduced for the period during which the pension or other retirement benefit prevents payment of another needs-based benefit to result in payment of the maximum amount possible by the association and the other governmental agency to the payee. Any amounts which would otherwise be paid out which are not paid in accordance with the provisions of this section shall not be recoverable by a payee at any later date.
B. If there is a change in the effect of a pension or other retirement benefit on any monetary payments or other needs-based benefits due to a payee from any other governmental agency, the pension or other retirement benefits shall be adjusted to result in the maximum total benefit to the payee. In no event shall any pension be increased in an amount greater than that authorized by the Public Employees Retirement Act.
C. The provisions of this section are mandatory and may not be waived or declined by a payee. Each payee shall provide the association with all information necessary for the association to carry out the requirements imposed by this section.
D. If the payee fails to provide all the facts necessary to comply with the requirements imposed by this section and payment of a pension or other retirement benefit is made without making the adjustment required by this section, neither the board, the executive director nor any officer or employee of the association or the board shall be liable to any third party because the adjustment was not made as required.
E. As used in this section:
(1) "pension" means a normal retirement, survivor or disability retirement pension payable to a retired member or survivor beneficiary pursuant to the Public Employees Retirement Act;
(2) "governmental agency" means the federal government, any department or agency of the federal government, any state and any department, agency or political subdivision of a state;
(3) "total benefits" means pensions plus any other monetary payments or other needs-based benefits due to the payee from any governmental agency;
(4) "needs-based benefit" means monetary or other benefits for which a determination of eligibility is based upon the recipient's level of income and resources; and
(5) "payee" means a retired member or the refund beneficiary or survivor beneficiary of a retired member.
History:
1978 Comp., § 10-11-118.1, enacted by Laws 1992, ch. 116, § 9; 1993, ch. 160, § 5; 1997, ch. 189, § 18.
ANNOTATIONS
The 1997 amendment,
effective June 20, 1997, in Subsection D, deleted "retirement" preceding "board" in two places and substituted "director" for "secretary".
The 1993 amendment,
effective June 18, 1993, rewrote this section to the extent that a detailed comparison would be impracticable.
2023 New Mexico Statutes › Chapter 10 - Public Officers and Employees › Article 11 - Retirement of Public Officers and Employees Generally › Section 10-11-119 - Commencement, change and termination of a pension.

A. A normal or disability pension shall commence the first day of the month following retirement. A preretirement survivor pension shall commence the first day of the month following the date of the death resulting in the pension. A postretirement survivor pension shall commence the first day of the month following the date of the death resulting in the pension.
B. Termination of payment of a pension shall occur at the end of the month in which the event causing termination occurs. Payment shall be made for the full month of termination.
C. A change in the amount of a pension shall occur the first day of the month following the date of the event causing the change.
History:
Laws 1987, ch. 253, § 119.
ANNOTATIONS
Effect of 1987 recodification.
— The 1987 recodification of the public employees retirement act does not permit a normal or disability retirement pension to be made retroactive. 1988 Op. Att'y Gen. No. 88-15.
Retroactive award prohibited.
— The Public Employees Retirement Association may not award disability benefits retroactive to the date on which the member's name last appeared on the payroll with pay. 1989 Op. Att'y Gen. No. 89-18.
2023 New Mexico Statutes › Chapter 10 - Public Officers and Employees › Article 11 - Retirement of Public Officers and Employees Generally › Section 10-11-120 - Denial of benefit claim; appeals.

A. A benefit claimant shall be notified in writing of a denial of a claim for benefits within thirty days of the denial. The notification shall give the reason for the denial. A claimant may appeal the denial and request a hearing. The appeal shall be in writing filed with the association within ninety days of the denial. The appeal shall contain a statement of the claimant's reason for claiming the denial to be improper. The retirement board shall schedule a de novo hearing of the appeal before the retirement board or, at the discretion of the retirement board, a designated hearing officer or committee of the retirement board within sixty days of receipt of the appeal. A final decision on the matter being appealed shall be made by the retirement board.
B. Appeals from a final decision of the retirement board may be filed pursuant to the provisions of Section 39-3-1.1 NMSA 1978.
History:
Laws 1987, ch. 253, § 120; 1997, ch. 189, § 8; 1998, ch. 55, § 22; 1999, ch. 265, § 22.
ANNOTATIONS
Cross references.
— For procedures governing administrative appeals to the district court,
see
Rule 1-074 NMRA.
The 1999 amendment,
effective July 1, 1999, substituted "Section 39-3-1.1" for "Section 12-8A-1" in Subsection B.
The 1998 amendment,
effective September 1, 1998, rewrote Subsection B.
The 1997 amendment,
effective June 20, 1997, in Subsection A, rewrote the first sentence, and in the second sentence, inserted "de novo" and inserted "designated hearing officer or".
Burden of proof.
— The burden of showing entitlement to benefits rests on the claimant.
Johnson v. Pub. Emps. Ret. Bd
., 1998-NMCA-174, 126 N.M. 282, 968 P.2d 793, cert. denied, 126 N.M. 532, 972 P.2d 351.
Plaintiffs must exhaust their administrative remedies.
— Where plaintiff husband, a retired member of the public employees retirement association, sought declaratory relief under the Declaratory Judgment Act, 44-6-1 to -15 NMSA 1978 (1975) after he executed and delivered a one-time irrevocable option to deselect his wife as his survivor beneficiary and designate his daughter as the new survivor beneficiary, but later claimed that the deselection of wife and designation of daughter was a mistake, and where the public employees retirement board declined plaintiff's request to void the action, the district court properly dismissed plaintiff's action for failure to exhaust his administrative remedies, because 10-11-120 NMSA 1978 provides the exclusive remedy for the denial of benefits under the Public Employees Retirement Act and the declaratory judgment exception for the exhaustion of administrative remedies was not available to plaintiff.
Gzaskow v. Public Employees Ret. Bd
., 2017-NMCA-064.
2023 New Mexico Statutes › Chapter 10 - Public Officers and Employees › Article 11 - Retirement of Public Officers and Employees Generally › Section 10-11-121 - Group health insurance; continuation; group life insurance.

A. Any member or survivor pension beneficiary may continue to be insured under the provisions of any affiliated public employer's group health insurance plan in effect at the time of retirement or death or under the terms of any separate subsequent group health insurance plan of the affiliated public employer if the retired member or survivor pension beneficiary pays the periodic premium charges and consents to have the association deduct the periodic premium charges from the retired member's or survivor pension beneficiary's pension. The affiliated public employer shall furnish to the association in the manner prescribed by the association a monthly listing of all members or survivor pension beneficiaries who have elected to continue to be insured in accordance with this section and shall also provide the association with written notification of any changes in insurance providers at least sixty days prior to any such change. The association shall make any such changes no later than sixty days after the date of notification.
B. Any member who retires after July 1, 1990, may be insured under the provisions of any affiliated public employer's group life insurance plan for retirees in effect at the time of retirement or death or under the terms of any separate subsequent group life insurance plan for retirees of the affiliated public employer if the retired member pays the periodic premium charges and consents to have the association deduct the periodic premium charges from the retired member's pension. The affiliated public employer shall furnish to the association in the manner prescribed by the association a monthly listing of all members who have elected to continue to be insured in accordance with this section and shall also provide the association with written notification of any changes in insurance providers at least sixty days prior to any such change. The association shall make any such changes no later than sixty days after the date of notification.
History:
Laws 1987, ch. 253, § 121; 1989, ch. 347, § 2; 1990, ch. 128, § 2.
ANNOTATIONS
Cross references.
— For amounts of group insurance contributions of governmental entities,
see
10-7-4 NMSA 1978.
For right of retiree of affiliated public employer to participate in group health insurance plan,
see
10-7-5.1 NMSA 1978.
2023 New Mexico Statutes › Chapter 10 - Public Officers and Employees › Article 11 - Retirement of Public Officers and Employees Generally › Section 10-11-122 - Public employer affiliation.

A. A public employer who is an affiliated public employer on the effective date of the Public Employees Retirement Act shall continue to be an affiliated public employer.
B. A public employer who is not an affiliated public employer on the effective date of the Public Employees Retirement Act may become an affiliated public employer by resolution or ordinance adopted by its governing body. Affiliation shall be effective the first day of the month following completion of each of the following requirements:
(1) the public employer files a certified copy of the resolution or ordinance with the association; and
(2) the public employer furnishes the association with all information requested by the association.
C. An affiliated public employer may adopt a coverage plan by resolution or ordinance of its governing body, unless a procedure for adopting the change is otherwise provided in the Public Employees Retirement Act. The change shall be effective the first day of the month following completion of each of the following requirements:
(1) the public employer files a certified copy of the resolution or ordinance with the association; and
(2) the public employer furnishes the association with all information requested by the association.
D. A public employer created by one of the methods specified in this subsection shall be an affiliated public employer with the coverage plan that provides the highest pension applicable to any of the groups of members brought under its employment.
(1) This subsection applies to a public employer created:
(a) by a merger of two or more affiliated public employers;
(b) pursuant to a joint powers agreement between two or more affiliated public employers;
(c) pursuant to a statute that authorizes two or more affiliated public employers to jointly create the public employer; or
(d) pursuant to a statute that creates the public employer by expanding the jurisdiction or assuming the powers and duties of an existing affiliated public employer.
(2) The public employer shall be an affiliated public employer on the first day of the month following the later of:
(a) the date that the public employer files with the association a certified copy of the statute, ordinance, resolution or joint powers agreement under which the public employer is created; or
(b) the date that the public employer furnishes the association with all information requested by the association.
History:
Laws 1987, ch. 253, § 122; 2005, ch. 333, § 3.
ANNOTATIONS
The 2005 amendment,
effective June 17, 2005, added Subsection D to provide for the affiliation of new public employers.
2023 New Mexico Statutes › Chapter 10 - Public Officers and Employees › Article 11 - Retirement of Public Officers and Employees Generally › Section 10-11-123 - Funds of association.

A. The accounting funds of the association are the "member contribution fund", "employers accumulation fund", "retirement reserve fund" and "income fund". The maintenance of separate accounting funds shall not require the actual segregation of the assets of the association among the various funds.
B. The accounting funds provided for in Subsection A of this section are trust funds and shall be used only for the purposes provided in the Public Employees Retirement Act.
History:
Laws 1987, ch. 253, § 123.
ANNOTATIONS
Segregation and allocation of investments.
— There is no statutory requirement that the various funds be segregated as to investments, and no prohibition against the allocation of a share of an investment to each of the several funds. 1958 Op. Att'y Gen. No. 58-172.
Am. Jur. 2d, A.L.R. and C.J.S. references. —
81A C.J.S. States §§ 46, 112 to 119, 223, 224, 229.
2023 New Mexico Statutes › Chapter 10 - Public Officers and Employees › Article 11 - Retirement of Public Officers and Employees Generally › Section 10-11-125 - Member contributions; tax treatment.

Upon implementation, each affiliated public employer shall, solely for the purpose of compliance with Section 414(h) of the Internal Revenue Code, pick up, for the purposes specified in that section, member contributions required by the Public Employees Retirement Act for all salary earned by the member after implementation. Member contributions picked up under the provisions of this section shall be treated as affiliated public employer contributions for purposes of determining income tax obligations under the Internal Revenue Code; however, such picked up member contributions shall be included in the determination of the member's gross annual salary for all other purposes under federal and state laws. Members' contributions picked up under this section shall continue to be designated member contributions for all purposes of the Public Employees Retirement Act and shall be considered as part of the member's salary for purposes of determining the amount of the member's contribution. The provisions of this section are mandatory, and the member shall have no option concerning the pick up or to receive the contributed amounts directly instead of having them paid by the affiliated public employer to the association. With respect to members employed by an affiliated public employer other than the state, implementation occurs upon the employer's filing of a resolution with the association stating the employer's intent to pick up member contributions as provided in this section. With respect to members employed by the state, implementation occurs upon authorization by the association. In no event may implementation occur other than at the beginning of a pay period.
History:
Laws 1987, ch. 253, § 125.
ANNOTATIONS
Cross references.
— For Section 414(h) of the Internal Revenue Code,
see
26 U.S.C. § 414(h).
Provisions are salary reductions subject to FICA tax.
— "Pickup" provisions of this section and Section 22-11-21.1 NMSA 1978, whereby the state designated certain employee pension contributions as employer contributions, constitute salary reduction agreements, and, as such, are subject to FICA taxes under 26 U.S.C. § 3121(v)(1)(B), 42 U.S.C. § 409(I)(2), and 26 U.S.C. § 3306(r)(1)(B), following the 1984 amendments to those sections.
Public Emps. Ret. Bd. v. Shalala
, 153 F.3d 1160 (10th Cir. 1998).
2023 New Mexico Statutes › Chapter 10 - Public Officers and Employees › Article 11 - Retirement of Public Officers and Employees Generally › Section 10-11-126 - Employers accumulation fund; employers contributions; transfers to retirement reserve fund.

A. The employers accumulation fund is the fund in which shall be accumulated contributions by affiliated public employers. Except as provided in Section 5 [10-11-5 NMSA 1978] of the Public Employees Retirement Act, an affiliated public employer shall remit its contributions to the association in accordance with the procedures and schedules established by the association. The association may assess an interest charge and a penalty charge on any remittance not made by its due date.
B. Each year following receipt of the report of the annual actuarial valuation, the excess, if any, of the reported actuarial present value of pensions being paid and likely to be paid to retired members and survivor pension beneficiaries and residual refunds likely to be paid to refund beneficiaries of retired members and to survivor pension beneficiaries over the balance in the retirement reserve fund shall be transferred to the retirement reserve fund from the employers accumulation fund.
History:
Laws 1987, ch. 253, § 126.
ANNOTATIONS
Employee contributions not exempt from state income tax.
— The amounts deducted from the salaries of public employees for the Public Employees Retirement Act contributions are not exempt from the state income tax. 1982 Op. Att'y Gen. No. 82-09.
Am. Jur. 2d, A.L.R. and C.J.S. references. —
81A C.J.S. States §§ 46, 112 to 119.
2023 New Mexico Statutes › Chapter 10 - Public Officers and Employees › Article 11 - Retirement of Public Officers and Employees Generally › Section 10-11-127 - Retirement reserve fund.

The retirement reserve fund is the fund from which shall be paid all pensions to retired members and survivor pension beneficiaries and all residual refunds to refund beneficiaries of retired members and survivor pension beneficiaries.
History:
Laws 1987, ch. 253, § 127.
2023 New Mexico Statutes › Chapter 10 - Public Officers and Employees › Article 11 - Retirement of Public Officers and Employees Generally › Section 10-11-128 - Income fund.

The income fund is the fund to which shall be credited all interest, dividends, rents and other income from investments of the association, all gifts and bequests, all unclaimed member contributions and all other money the disposition of which is not specifically provided for in the Public Employees Retirement Act. There shall be paid or transferred from the income fund all administrative expenses of the association.
History:
Laws 1987, ch. 253, § 128.
ANNOTATIONS
Am. Jur. 2d, A.L.R. and C.J.S. references. —
81A C.J.S. States §§ 46, 112 to 119.
2023 New Mexico Statutes › Chapter 10 - Public Officers and Employees › Article 11 - Retirement of Public Officers and Employees Generally › Section 10-11-129 - Distribution of income fund.

The association shall at least annually distribute all or a portion of the balance in the income fund to the member contribution fund, the retirement reserve fund and the employer accumulation fund. Distribution rates shall be determined by the retirement board and may vary by fund.
History:
Laws 1987, ch. 253, § 129.
2023 New Mexico Statutes › Chapter 10 - Public Officers and Employees › Article 11 - Retirement of Public Officers and Employees Generally › Section 10-11-129.1 - Legislative retirement fund.

The "legislative retirement fund" is created in the state treasury. The fund shall consist of money distributed, transferred or otherwise accruing to the fund. Money in the fund may be appropriated by the legislature to finance state legislator member coverage plan 2 pursuant to the Public Employees Retirement Act. Income from investment of the fund shall accrue to the fund, and balances in the fund at the end of any fiscal year shall not revert to the general fund.
History:
Laws 2003, ch. 85, § 13.
ANNOTATIONS
Effective dates.
— Laws 2003, ch. 85, § 14 made the act effective July 1, 2003.
2023 New Mexico Statutes › Chapter 10 - Public Officers and Employees › Article 11 - Retirement of Public Officers and Employees Generally › Section 10-11-130.1 - Restrictions on receipt of gifts; restriction on campaign contributions; required reporting.

A. Except for gifts of food or beverage given in a place of public accommodation, consumed at the time of receipt, not exceeding fifty dollars ($50.00) for a single gift and the aggregate value of which gifts may not exceed one hundred fifty dollars ($150) in a calendar year, neither a retirement board member nor an employee of the retirement board or association shall receive or accept anything of value directly or indirectly from a person who:
(1) has a current contract with the retirement board or association;
(2) is a potential bidder, offeror or contractor for the provision of services or personal property to the retirement board or association;
(3) is authorized to invest public funds pursuant to state or federal law or is an employee or agent of such a person; or
(4) is an organization, association or other entity having a membership that includes persons described in Paragraphs (1) through (3) of this subsection.
B. No person who is a candidate in a primary or general election for a position that qualifies the person for ex-officio membership on the retirement board, no member serving ex officio on the retirement board and no person who is a nominee for retirement board membership by election by some or all of the members of the association pursuant to the Public Employees Retirement Act shall accept anything of a value of more than twenty-five dollars ($25.00) as a contribution to an ex-officio member's statewide campaign in a primary or general election or as a contribution to the campaign of a nominee for membership on the board as a member elected by all or some of the members of the association from a person who:
(1) has a current contract with the retirement board or association;
(2) is a potential bidder, offeror or contractor for the provision of services or personal property to the retirement board or association;
(3) is authorized to invest public funds pursuant to state or federal law or is an employee or agent of such a person; or
(4) is an organization, association or other entity having a membership that includes persons described in Paragraphs (1) through (3) of this subsection.
C. Within ten days after an election in which one or more board members are elected by some or all of the members of the association pursuant to the Public Employees Retirement Act, all persons who were candidates for board membership in that election shall file with the association a report disclosing all contributions to their respective campaigns whether made directly to the candidate, a political action committee or to some other entity supporting the candidate's election. The contributions shall be reported by amount and specific source. Within sixty days after the election, the association shall publish the reports required by this subsection.
History:
Laws 1999, ch. 153, § 1.
2023 New Mexico Statutes › Chapter 10 - Public Officers and Employees › Article 11 - Retirement of Public Officers and Employees Generally › Section 10-11-131 - Retirement board; officers; employment of services.

A. The retirement board shall elect from its own number a chairman and a vice chairman.
B. The retirement board shall appoint an executive director who shall be the chief administrative officer for the retirement board and the association.
C. The retirement board shall employ professional, technical, clerical and other services as required for the operation of the association. The compensation for employed services shall be fixed by the retirement board.
D. The state treasurer shall be the treasurer of the association and the custodian of its funds. The treasurer's general bond to the state shall cover all liability for acts as treasurer of the association. The treasurer shall credit all receipts of money and assets of the association to the association. The treasurer shall make disbursements from association assets only upon warrants issued by the secretary of finance and administration based upon vouchers signed by the executive secretary or vouchers signed by the state treasurer for purposes of investment.
History:
Laws 1987, ch. 253, § 131; 1997, ch. 189, § 10.
ANNOTATIONS
The 1997 amendment,
effective June 20, 1997, substituted "director" for "secretary" in Subsection B.
Generally, as to salary of executive secretary.
— The retirement board has the authority to fix the salary of the executive secretary of such board, and in the absence of any attempt of the state personnel board to classify the position and fix the salary of the executive secretary, no consent or approval from said board is required. 1955 Op. Att'y Gen. No. 55-6070.
2023 New Mexico Statutes › Chapter 10 - Public Officers and Employees › Article 11 - Retirement of Public Officers and Employees Generally › Section 10-11-133.1 - Disclosure of third-party marketers; penalty.

A. The retirement board shall not make any investment, other than investments in publicly traded equities or publicly traded fixed-income securities, unless the recipient of the investment discloses the identity of any third-party marketer who rendered services on behalf of the recipient in obtaining the investment and also discloses the amount of any fee, commission or retainer paid to the third-party marketer for the services rendered.
B. Information disclosed pursuant to Subsection A of this section shall be included in the quarterly performance reports of the retirement board.
C. Any person who knowingly withholds information required by Subsection A of this section is guilty of a fourth degree felony and shall be punished by a fine of not more than twenty thousand dollars ($20,000) or by imprisonment for a definite term not to exceed eighteen months or both.
D. As used in this section, "third-party marketer" means a person who, on behalf of an investment fund manager or other person seeking an investment from the fund and under a written or implied agreement, receives a fee, commission or retainer for such services from the person seeking an investment from the fund.
History:
Laws 2009, ch. 152, § 2.
ANNOTATIONS
Effective dates.
— Laws 2009, ch. 152 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 19, 2009, 90 days after the adjournment of the legislature.
2023 New Mexico Statutes › Chapter 10 - Public Officers and Employees › Article 11 - Retirement of Public Officers and Employees Generally › Section 10-11-134 - Survivor benefit fund; disposition.

A. The pensions being paid from the survivor benefit fund on June 30, 1987 shall thereafter be paid from the retirement reserve fund.
B. The actuarial present value of pensions being paid from the survivor benefit fund on June 30, 1987 shall be transferred from the survivor benefit fund to the retirement reserve fund.
C. Affiliated public employer contributions to the survivor benefit fund shall be discontinued effective the first full pay period after June 30, 1987.
D. Each affiliated public employer contributing to the survivor benefit fund as of June 30, 1987 shall have its equity in the survivor benefit fund credited toward future employer contributions. The amount of credit shall be transferred from the survivor benefit fund to the employer accumulation fund as credits are earned.
E. The association shall determine the equity of each affiliated public employer in the survivor benefit fund in proportion to contributions made during the year ended June 30, 1986 and the number of months the affiliated public employer has contributed to the survivor benefit fund. The determination shall be made after the provisions of Subsections A and B of this section have been implemented.
History:
Laws 1987, ch. 253, § 134.
ANNOTATIONS
Compiler's notes.
— Laws 1987, ch. 355, § 10 provided that notwithstanding other acts of the legislature, the contributions made by the New Mexico state police and the corrections department to the public employees' retirement association for the survivors' benefit fund are hereby suspended.
2023 New Mexico Statutes › Chapter 10 - Public Officers and Employees › Article 11 - Retirement of Public Officers and Employees Generally › Section 10-11-136.1 - Legal process to satisfy child support obligations.

A court of competent jurisdiction, solely for the purposes of enforcing current or delinquent child support obligations, may provide by appropriate order for withholding amounts due in satisfaction of current or delinquent child support obligations from the pensions or other benefits provided for in the Public Employees Retirement Act and for payment of such amounts to third parties. The court shall not alter the manner in which the amount of pensions or other benefits is calculated by the association. The court shall not cause any increase in the actuarial present value of the pensions or other benefits to be paid by the association. Payments made pursuant to such orders shall only be made when member contributions are refunded or a pension is payable in accordance with the provisions of the Public Employees Retirement Act; in no case shall more money be paid out, either in a lump sum or in monthly benefits, of association funds in enforcement of current or delinquent child support obligations than would otherwise be payable at that time.
History:
1978 Comp., § 10-11-136.1, enacted by Laws 1989, ch. 125, § 2; 1993, ch. 160, § 8.
ANNOTATIONS
Cross references.
— For exemption from legal process for Public Employees Retirement Act benefits,
see
10-11-135 NMSA 1978.
For rules governing garnishment and writs of execution in the district, magistrate, and metropolitan courts,
see
Rules 1-065.1, 2-801, and 3-801 NMRA, respectively.
For form for claim of exemptions on executions,
see
Rule 4-803 NMRA.
For form for order on claim of exemption and order to pay in execution proceedings,
see
Rule 4-804 NMRA.
For form for application for writ of garnishment and affidavit,
see
Rule 4-805 NMRA.
For form for notice of right to claim exemptions from execution,
see
Rule 4-808A NMRA.
For form for claim of exemption from garnishment,
see
Rule 4-809 NMRA.
The 1993 amendment,
effective June 18, 1993, inserted "the" before "Public Employees Retirement Act" in the first sentence and substituted the language beginning "member contributions are refunded" and ending "Public Employees Retirement Act" for "the member terminates public employment and requests a refund of contributions or when the member retires" in the last sentence.
2023 New Mexico Statutes › Chapter 10 - Public Officers and Employees › Article 11 - Retirement of Public Officers and Employees Generally › Section 10-11-137 - Insurance and banking laws not applicable.

None of the laws of this state regulating insurance or insurance companies or banking institutions shall apply to the association.
History:
Laws 1987, ch. 253, § 137.
ANNOTATIONS
Cross references.
— For exemption from legal process for Public Employees Retirement Act benefits,
see
10-11-135 NMSA 1978.
For exemption from legal process for Judicial Retirement Act benefits,
see
10-12B-7 NMSA 1978.
For exemption from legal process for Magistrate Retirement Act benefits,
see
10-12C-7 NMSA 1978.
For exemption from legal process for Educational Retirement Act benefits,
see
22-11-42 NMSA 1978.
For exemption from legal process for interest from state police pension fund,
see
29-4-10 NMSA 1978.
For exemption from legal process for married persons or heads of households,
see
42-10-1 NMSA 1978.
Am. Jur. 2d, A.L.R. and C.J.S. references. —
67 C.J.S. Officers and Public Employees § 243.
2023 New Mexico Statutes › Chapter 10 - Public Officers and Employees › Article 11 - Retirement of Public Officers and Employees Generally › Section 10-11-138 - Gifts and bequests.

The retirement board is authorized and empowered to receive donations, gifts and bequests and credit them to the income fund.
History:
Laws 1987, ch. 253, § 138.
ANNOTATIONS
Effect of gift on annuity.
— A retired member of the public employees' retirement association who was granted an annuity effective March 20, 1957, of $66.13 per month could not reduce his annuity by $1.00 per month by contributing or giving said $1.00 per month as a gift to the public employees' retirement association. 1959 Op. Att'y Gen. No. 59-119.
Public Employees Retirement Board members could not accept expense-paid trip.
— Public Employees Retirement Board members could not accept an offer of an expense-paid trip to Columbus, Ohio to be hosted by Public Employees Benefit Services Corporation. 1989 Op. Att'y Gen. No. 89-21.
2023 New Mexico Statutes › Chapter 10 - Public Officers and Employees › Article 11 - Retirement of Public Officers and Employees Generally › Section 10-11-139 - Repealed.

ANNOTATIONS
Repeals.
— Laws 1993, ch. 29, § 2 repealed 10-11-139 NMSA 1978, as enacted by Laws 1987, ch. 176, § 1, relating to the applicability of definitions, effective June 18, 1993. For provisions of former section,
see
the 1992 NMSA 1978 on
NMOneSource.com.
2023 New Mexico Statutes › Chapter 10 - Public Officers and Employees › Article 11 - Retirement of Public Officers and Employees Generally › Section 10-11-140 - Repealed.

ANNOTATIONS
Repeals.
— Laws 1989, ch. 80, § 2 repealed 10-11-140 NMSA 1978, as amended by Laws 1988, ch. 110, § 1, relating to purchase of service credit, effective July 1, 1992.
2023 New Mexico Statutes › Chapter 10 - Public Officers and Employees › Article 11 - Retirement of Public Officers and Employees Generally › Section 10-11-142 - Notice of eligibility and changes in benefits.

The association shall give written notice, to the member's last known address of record, to a member when:
A. the member meets the minimum age and service requirements for normal retirement pursuant to the coverage plan applicable to the member; or
B. when a change has been made, by law or rule, to a retirement requirement that applied to the member prior to the change or to the amount of normal retirement pension for which the member would have been eligible prior to the change.
History:
Laws 2009, ch. 158, § 1.
ANNOTATIONS
Effective dates.
— Laws 2009, ch. 158, § 2 made Laws 2009, ch. 158, § 1 effective July 1, 2009.
2023 New Mexico Statutes › Chapter 10 - Public Officers and Employees › Article 11 - Retirement of Public Officers and Employees Generally › Section 10-11-143 - Contribution rate reductions; coverage plan funded ratio.

A. Prior to May 1 of each year, the retirement board shall certify to the association the coverage plan funded ratio for each coverage plan as of June 30 of the preceding calendar year.
B. If a certified coverage plan funded ratio is greater than or equal to eighty percent pursuant to Subsection A of this section, the retirement board shall certify to the association the projected funded ratio of the coverage plan, including any potential contribution rate reductions, for July 1 of the next succeeding fiscal year.
C. If the projected coverage plan funded ratio, calculated pursuant to Subsection B of this section, is equal to or greater than:
(1) eighty percent and less than ninety percent, the employer and employee contribution rates for the coverage plan shall each be reduced by five-tenths percent in the next fiscal year;
(2) ninety percent and less than one hundred percent, the employer and employee contribution rates for the coverage plan shall each be reduced by one percent in the next fiscal year; or
(3) one hundred percent, the employer and employee contribution rates for the coverage plan shall each be reduced by two percent in the next fiscal year.
D. The percentage of the employer and employee contribution shall not be reduced to less than the employer and employee contribution rates in effect on June 30, 2020.
History:
Laws 2020, ch. 11, § 62.
ANNOTATIONS
Effective dates.
— Laws 2020, ch. 11, § 67 made Laws 2020, ch. 11, § 62 effective July 1, 2022.
2023 New Mexico Statutes › Chapter 10 - Public Officers and Employees › Article 11A - Volunteer Firefighters Retirement › Section 10-11A-1 - Short title.

Chapter 10, Article 11A NMSA 1978 may be cited as the "Volunteer Firefighters Retirement Act".
History:
Laws 1983, ch. 263, § 1; 2003, ch. 370, § 1.
ANNOTATIONS
The 2003 amendment,
effective June 20, 2003, substituted "Chapter 10, Article 11A NMSA 1978" for "This act".
Am. Jur. 2d, A.L.R. and C.J.S. references. —
60A Am. Jur. 2d Pensions and Retirement Funds §§ 1616, 1633, 1635.
62 C.J.S. Municipal Corporations §§ 595, 614.