New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 80 - PUBLIC EMPLOYEES RETIREMENT › Part 600 - SERVICE CREDIT AND PURCHASE OF SERVICE CREDIT › Section 2.80.600.10 - GENERAL PROVISIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A. Service
				shall be credited to the nearest month.
(1)
				Members may receive one month of service credit for any calendar month in which
				the member becomes a member on or before the sixteenth day of that month, or
				for any calendar month in which the member leaves office or terminates
				employment on or after the fifteenth day of the month, provided that all other
				requirements for awarding service credit are met.
(2) A member who is a full-time employee of
				an affiliated public employer shall acquire one month of service credit for
				every calendar month in which the member is paid 50% or more of his or her
				monthly salary as reported by the member's affiliated public
				employer.
(3) If a member who is a
				full-time employee of an affiliated public employer is paid less than 50% of
				the member's monthly salary as reported by the member's affiliated public
				employer, employer and member contributions shall be paid on any salary paid
				during that month, and the member contributions shall be posted to the member's
				individual member contribution account, but no service credit shall be acquired
				for that month, even if unpaid leave was taken pursuant to the Family Medical
				Leave Act.
(4) A member who is a
				part-time employee of an affiliated public employer shall acquire one month of
				service credit for every calendar month in which the member works twenty (20)
				or more hours per week, totaling forty (40) or more hours in an eighty (80)
				hour pay period as reported by the member's affiliated public employer. A
				part-time employee is an employee who works forty (40) or more hours but less
				than eighty (80) hours in an eighty (80) hour pay period or twenty (20) or more
				hours but less than forty (40) hours in a week. This amendment was adopted as
				an emergency rule to provide additional time for review and consideration of
				the manner in which service credit is awarded to PERA members who are employed
				part-time. Immediate adoption of this amendment is necessary for the general
				welfare of the association.
(a)
				Notwithstanding any other provision of 2.80.600.10 NMAC, part-time employees
				who normally work at least twenty (20) hours in a week and who were furloughed
				pursuant to executive order issued between July 1, 2009 and June 30, 2010 shall
				acquire one month of service credit for each month affected by a furlough day.
				This amendment was adopted as an emergency rule to allow part-time employees to
				acquire service credit they would otherwise be eligible for absent the
				executive order. Immediate adoption of this amendment is necessary for the
				general welfare of the association.
(b) Notwithstanding any other provision of
				2.80.600.10 NMAC, part-time employees who normally work at least twenty (20)
				hours in a week and who were furloughed in January and February, 2010 as a
				result of the second judicial district court's furlough plan shall acquire one
				month of service credit for each month affected by a furlough day.
(c) Notwithstanding any other provision of
				2.80.600.10 NMAC, part-time employees who normally work at least twenty (20)
				hours in a week and who were furloughed in May and June, 2010 as a result of
				the city of Rio Rancho's resolution no. 43 furlough plan shall acquire one
				month of service credit for each month affected by a furlough day.
(5) This amendment was adopted as
				an emergency rule to provide additional time for review and consideration of
				the manner in which service credit is awarded to PERA members who are employed
				part-time. Immediate adoption of this amendment is necessary for the general
				welfare of the association.
(6) If
				a member who is a part-time employee does not qualify for service credit,
				employer and member contributions shall be paid on any salary paid during that
				month, and the member contributions shall be posted to the member's individual
				member contribution account, but no service credit shall be acquired.