2023 New Mexico Statutes › Chapter 10 - Public Officers and Employees › Article 11 - Retirement of Public Officers and Employees Generally › Section 10-11-38.6 - Juvenile correctional officer member coverage plan 2; state contribution rate.

The state shall contribute the following percentages of the salary of each member covered by juvenile correctional officer member coverage plan 2 starting with the first pay period that ends within the calendar month in which juvenile correctional officer member coverage plan 2 becomes applicable to the member:
A. beginning July 1, 2020 and continuing through June 30, 2021, twenty-six and eighty-seven hundredths percent of salary;
B. beginning July 1, 2021 and continuing through June 30, 2022, twenty-seven and thirty-seven hundredths percent of salary;
C. beginning July 1, 2022 and continuing through June 30, 2023, twenty-seven and eighty-seven hundredths percent of salary; and
D. beginning July 1, 2023 and thereafter, twenty-eight and thirty-seven hundredths percent of salary.
History:
Laws 1994, ch. 128, § 14; 2009, ch. 127, § 6; 2011, ch. 178, § 6; 2013, ch. 225, § 29; 2019, ch. 237, § 2; 2020, ch. 11, § 15.
ANNOTATIONS
The 2020 amendment,
effective July 1, 2020, increased the state contribution rate by .5 percent each year for four years; in the introductory clause, after "shall contribute", deleted "twenty-six and thirty-seven hundredths percent" and added "the following percentages"; and added Subsections A through D.
The 2019 amendment,
effective July 1, 2019, increased employer contribution rates to the funds included under the Public Employees Retirement Act; after "shall contribute twenty-six and", deleted "twelve" and added "thirty-seven", and after "applicable to the member", deleted "except that, from July 1, 2013 through June 30, 2014, the state contribution rate shall be twenty-five and seventy-two hundredths percent of the salary of each member".
The 2013 amendment,
effective July 1, 2013, applied the employer contribution rate under member coverage plan 2 to juvenile correctional officers; in the title, deleted "State hazardous duty" and added "Juvenile correctional officer"; after "contribute", deleted "twenty-five and seventy-two hundredths" and added "twenty-six and twelve-hundredths"; after "member covered by", deleted "state hazardous duty" and added "juvenile correctional officer"; after "month in which", deleted "state hazardous duty" and added "juvenile correctional officer"; after "except that", deleted "for members whose annual salary is greater than twenty thousand dollars ($20,000)" and added the remainder of the sentence; and deleted former Subsections A, B and C, which provided for an employer contribution rate for employees whose annual salary was greater than twenty thousand dollars that ranged from twenty-four and twenty-two hundredths percent beginning July 1, 2009, twenty-two and forty-seven hundredths percent beginning July 1, 2011, and twenty-four and twenty-two hundredths percent beginning July 1, 2012.
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, decreased the state contribution rate for the period from July 1, 2011 through June 30, 2012.
The 2009 amendment,
effective July 1, 2009, added the exception at the end of the sentence.