2018 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 twenty-six and twelve-hundredths percent 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, 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.
History: Laws 1994, ch. 128, § 14; 2009, ch. 127, § 6; 2011, ch. 178, § 6; 2013, ch. 225, § 29.
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.
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.
