Any state or local public body deferred compensation plan in existence on the effective date of the Deferred Compensation Act shall not be affected and may be made available to employees and other persons of the state agency or local public body which had adopted said deferred compensation plan on the same basis as on the effective date of the Deferred Compensation Act. Funds of existing plans may be invested in all or any combination of the investments set forth in Subsection B of Section 10-7A-5 NMSA 1978.
History: Laws 1981, ch. 155, § 9; 1983, ch. 251, § 3.
Compiler's notes. — The effective date of the Deferred Compensation Act was April 6, 1981.
Structure 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.