To be eligible for state legislator member coverage plan 2, a state legislator or lieutenant governor shall make the necessary contributions by December 31, 2004 for years of credited service earned prior to January 1, 2003, in an amount that totals five hundred dollars ($500) for each year of credited service.
History: Laws 2003, ch. 85, § 12.
Effective dates. — Laws 2003, ch. 85, § 14 made the act effective July 1, 2003.
Temporary provisions. — Laws 2008, ch. 71, § 1, effective May 14, 2008, added a temporary provision that provided that notwithstanding the provisions of Sections 10-11-43.1 and 10-11-43.6 NMSA 1978, a legislator or lieutenant governor serving on July 1, 2009 shall be eligible for state legislator member coverage plan 2 if, by December 31, 2008, the legislator or lieutenant governor elects to become a member and:
A. makes a contribution in an amount that, when added to previous contributions, totals five hundred dollars ($500) for each year of credited service earned prior to December 31, 2008; and
B. pays interest on the amount contributed at an interest rate set by the public employees retirement board.
Structure 2021 New Mexico Statutes
Chapter 10 - Public Officers and Employees
Article 11 - Retirement of Public Officers and Employees Generally
Section 10-11-1 - Short title.
Section 10-11-2 - Definitions.
Section 10-11-2.1 - Definitions.
Section 10-11-2.2 - Additional definition; state legislator member.
Section 10-11-3 - Membership; requirements; exclusions; termination.
Section 10-11-4 - Service credit; requirements for; forfeiture; reinstatement.
Section 10-11-4.2 - Correction of errors and omissions; estoppel.
Section 10-11-5 - Credited service; municipal election to make employee contributions.
Section 10-11-7 - Service credit; purchase of service.
Section 10-11-8 - Normal retirement; return to employment; benefits continued; contributions.
Section 10-11-10.1 - Disability retirement.
Section 10-11-12 - Status of disability retired member upon termination of disability retirement.
Section 10-11-14.1 to 10-11-14.4 - Repealed.
Section 10-11-14.5 - Death before retirement; survivor pensions.
Section 10-11-14.6 - Calculation of final average salary.
Section 10-11-15 - State general member coverage plan 1; applicability.
Section 10-11-18 - State general member coverage plan 1; final average salary.
Section 10-11-18.1 - Repealed.
Section 10-11-19 - State general member coverage plan 1; member contribution rate.
Section 10-11-20 - State general member coverage plan 1; state contribution rate.
Section 10-11-21 - State general member coverage plan 2; applicability.
Section 10-11-23 - State general member coverage plan 2; amount of pension; form of payment A.
Section 10-11-24 - State general member coverage plan 2; final average salary.
Section 10-11-25 - State general member coverage plan 2; member contribution rate.
Section 10-11-26 - State general member coverage plan 2; state contribution rate.
Section 10-11-26.1 - State general member coverage plan 3; applicability.
Section 10-11-26.3 - State general member coverage plan 3; amount of pension; form of payment A.
Section 10-11-26.4 - Repealed.
Section 10-11-26.5 - State general member coverage plan 3; member contribution rate.
Section 10-11-26.6 - State general member coverage plan 3; state contribution rate.
Section 10-11-26.7 - Service credit under this plan required.
Section 10-11-27.2 - Legislative findings.
Section 10-11-29.1 - Repealed.
Section 10-11-33 - Juvenile correctional officer member coverage plan 1; applicability.
Section 10-11-37 - Juvenile correctional officer member coverage plan 1; member contribution rate.
Section 10-11-38 - Juvenile correctional officer member coverage plan 1; state contribution rate.
Section 10-11-38.1 - Juvenile correctional officer member coverage plan 2; applicability.
Section 10-11-38.4 - Repealed.
Section 10-11-38.5 - Juvenile correctional officer member coverage plan 2; member contribution rate.
Section 10-11-38.6 - Juvenile correctional officer member coverage plan 2; state contribution rate.
Section 10-11-38.7 - Service credit under this plan required.
Section 10-11-39 - State legislator member coverage plan 1; applicability.
Section 10-11-41 - State legislator member coverage plan 1; amount of pension; form of payment A.
Section 10-11-42 - State legislator member coverage plan 1; member contribution rate.
Section 10-11-43 - State legislator member coverage plan 1; state contribution rate.
Section 10-11-43.1 - State legislator member coverage plan 2; applicability.
Section 10-11-43.3 - State legislator member coverage plan 2; amount of pension; form of payment A.
Section 10-11-43.4 - State legislator member coverage plan 2; member contribution rate.
Section 10-11-43.5 - State legislator member coverage plan 2; state contribution rate.
Section 10-11-44 - Municipal general member coverage plan 1; applicability.
Section 10-11-46 - Municipal general member coverage plan 1; amount of pension; form of payment A.
Section 10-11-48 - Municipal general member coverage plan 1; member contribution rate.
Section 10-11-50 - Municipal general member coverage plan 2; applicability.
Section 10-11-52 - Municipal general member coverage plan 2; amount of pension; form of payment A.
Section 10-11-54 - Municipal general member coverage plan 2; member contribution rate.
Section 10-11-55.1 - Municipal general member coverage plan 3; applicability.
Section 10-11-55.3 - Municipal general member coverage plan 3; amount of pension; form of payment A.
Section 10-11-55.4 - Repealed.
Section 10-11-55.5 - Municipal general member coverage plan 3; member contribution rate.
Section 10-11-55.7 - Municipal general member coverage plan 4; applicability.
Section 10-11-55.9 - Municipal general member coverage plan 4; amount of pension; form of payment A.
Section 10-11-55.10 - Repealed.
Section 10-11-55.11 - Municipal general member coverage plan 4; member contribution rate.
Section 10-11-56 - Municipal police member coverage plan 1; applicability.
Section 10-11-58 - Municipal police member coverage plan 1; amount of pension; form of payment A.
Section 10-11-60 - Municipal police member coverage plan 1; member contribution rate.
Section 10-11-62 - Municipal police member coverage plan 2; applicability.
Section 10-11-64 - Municipal police member coverage plan 2; amount of pension; form of payment A.
Section 10-11-66 - Municipal police member coverage plan 2; member contribution rate.
Section 10-11-68 - Municipal police member coverage plan 3; applicability.
Section 10-11-70 - Municipal police member coverage plan 3; amount of pension; form of payment A.
Section 10-11-72 - Municipal police member coverage plan 3; member contribution rate.
Section 10-11-74 - Municipal police member coverage plan 4; applicability.
Section 10-11-76 - Municipal police member coverage plan 4; amount of pension; form of pension A.
Section 10-11-78 - Municipal police member coverage plan 4; member contribution rate.
Section 10-11-80 - Municipal police member coverage plan 5; applicability.
Section 10-11-82 - Municipal police member coverage plan 5; amount of pension; form of payment A.
Section 10-11-84 - Municipal police member coverage plan 5; member contribution rate.
Section 10-11-86 - Municipal fire member coverage plan 1; applicability.
Section 10-11-88 - Municipal fire member coverage plan 1; amount of pension; form of payment A.
Section 10-11-90 - Municipal fire member coverage plan 1; member contribution rate.
Section 10-11-92 - Municipal fire member coverage plan 2; applicability.
Section 10-11-94 - Municipal fire member coverage plan 2; amount of pension; form of payment A.
Section 10-11-96 - Municipal fire member coverage plan 2; member contribution rate.
Section 10-11-98 - Municipal fire member coverage plan 3; applicability.
Section 10-11-100 - Municipal fire member coverage plan 3; amount of pension; form of payment A.
Section 10-11-102 - Municipal fire member coverage plan 3; member contribution rate.
Section 10-11-104 - Municipal fire member coverage plan 4; applicability.
Section 10-11-106 - Municipal fire member coverage plan 4; amount of pension; form of payment A.
Section 10-11-108 - Municipal fire member coverage plan 4; member contribution rate.
Section 10-11-110 - Municipal fire member coverage plan 5; applicability.
Section 10-11-112 - Municipal fire member coverage plan 5; amount of pension; form of payment A.
Section 10-11-114 - Municipal fire member coverage plan 5; member contribution rate.
Section 10-11-115.1 - Municipal detention officer member coverage plan 1; applicability.
Section 10-11-115.4 - Repealed.
Section 10-11-115.5 - Municipal detention officer member coverage plan 1; member contribution rate.
Section 10-11-116 - Election of form of payment of a pension.
Section 10-11-117 - Forms of payment of a pension.
Section 10-11-118 - Cost-of-living adjustments; qualified pension recipient; declining increase.
Section 10-11-118.1 - Adjustment of benefits.
Section 10-11-119 - Commencement, change and termination of a pension.
Section 10-11-120 - Denial of benefit claim; appeals.
Section 10-11-121 - Group health insurance; continuation; group life insurance.
Section 10-11-122 - Public employer affiliation.
Section 10-11-123 - Funds of association.
Section 10-11-124 - Member contribution fund.
Section 10-11-125 - Member contributions; tax treatment.
Section 10-11-127 - Retirement reserve fund.
Section 10-11-128 - Income fund.
Section 10-11-129 - Distribution of income fund.
Section 10-11-129.1 - Legislative retirement fund.
Section 10-11-130 - Retirement board; authority; membership.
Section 10-11-131 - Retirement board; officers; employment of services.
Section 10-11-133 - Investment of funds; prudent investor standard; conditions.
Section 10-11-133.1 - Disclosure of third-party marketers; penalty.
Section 10-11-134 - Survivor benefit fund; disposition.
Section 10-11-135 - Funds not subject to process.
Section 10-11-136 - Division of funds as community property.
Section 10-11-136.1 - Legal process to satisfy child support obligations.
Section 10-11-137 - Insurance and banking laws not applicable.
Section 10-11-138 - Gifts and bequests.
Section 10-11-141 - Purchase of service credit.
Section 10-11-142 - Notice of eligibility and changes in benefits.