2018 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 thousand dollars ($20,000) shall contribute six 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.
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.
Temporary provisions. — Laws 2011, ch. 178, § 15 provided that for the purposes of calculating employee and employer contributions due after June 30, 2011, in determining whether an employee has an annual salary greater or less than twenty thousand dollars ($20,000), the employee's annual salary shall be the employee's base hourly rate at the time the contribution is made multiplied by the number of compensable hours for a full-time-equivalent in the employee's position at the time the contribution is made as determined by the employer; provided that the department of finance and administration shall determine the number of compensable hours for a full-time-equivalent in the employee's position for employees who are members in a retirement program provided for in the Public Employees Retirement Act, the Magistrate Retirement Act or the Judicial Retirement Act.
Laws 2011, ch. 178, § 16, provided that notwithstanding a provision of Laws 2011, Chapter 178 to the contrary, the employer and employee contribution rates required by this act for the period from July 1, 2011 through June 30, 2012 shall continue for the period from July 1, 2012 through June 30, 2013 if, after the last consensus revenue forecast before the beginning of the second session of the fiftieth legislature, the secretary of finance and administration certifies to the retirement board of the public employees retirement association, the educational retirement board and the legislative finance committee that, according to the consensus revenue forecast:
(1) general fund revenues in fiscal year 2012 will be less than one hundred million dollars ($100,000,000) more than the general fund revenue forecast reflected in the fiscal year 2012 state budget; and
(2) at the end of fiscal year 2012, the total amount in the state reserve funds will be less than five percent of the total general fund appropriations for fiscal year 2012.
The 2009 amendment, effective July 1, 2009, added the exception at the end of the sentence.
