Any expenditure necessary to implement the Deferred Compensation Act shall be charged to participating employees or to deferred compensation carriers including those submitting proposals.
History: Laws 1981, ch. 155, § 10; 1985, ch. 161, § 6.
Cross references. — For salary reductions for deferred compensation plans, see 10-7-8 NMSA 1978.
Agreement with company administering deferred compensation program. — The public employee's retirement board's administrator's agreement with the company providing professional services by administering and marketing the state's deferred compensation program must be let for proposals pursuant to the Procurement Code, 13-1-28 NMSA 1978 et seq., to the extent the administrator receives as compensation an amount exceeding $20,000, although the administrator's sole compensation under the contract derives from sales commissions, etc., from the underwriter. 1987 Op. Att'y Gen. No. 87-35.
Structure 2021 New Mexico Statutes
Chapter 10 - Public Officers and Employees
Article 7A - Deferred Compensation
Section 10-7A-1 - Short title.
Section 10-7A-2 - Definitions.
Section 10-7A-3 - Deferred compensation plan; state and local public employees.
Section 10-7A-4 - Deferred compensation plan; other participants.
Section 10-7A-5 - Deferred compensation plan; approval.
Section 10-7A-6 - Deferred compensation plans; investment options.
Section 10-7A-7 - Deferred compensation plan; state tax deferral.
Section 10-7A-8 - Deferred compensation plan; local public employee participation.
Section 10-7A-9 - Existing deferred compensation plans.
Section 10-7A-10 - Expenditure.
Section 10-7A-11 - Rule making; agreements.
Section 10-7A-12 - Division of funds as community property; notice requirement.