0001| SENATE JOINT MEMORIAL 39
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0002| 43rd legislature - STATE OF NEW MEXICO - first session, 1997
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0003| INTRODUCED BY
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0004| MICHAEL S. SANCHEZ
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0005|
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0006|
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0007|
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0008|
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0009|
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0010| A JOINT MEMORIAL
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0011| REQUESTING THAT THE PUBLIC EMPLOYEES RETIREMENT ASSOCIATION
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0012| SEEK WRITTEN TAX ADVICE FROM THE INTERNAL REVENUE SERVICE
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0013| REGARDING ALLOWING MEMBERS WHO WERE CIVILIAN PRISONERS OF WAR
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0014| TO PURCHASE SERVICE CREDIT.
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0015|
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0016| WHEREAS, Senate Bill 514, introduced this legislative
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0017| session, proposes to amend the Public Employees Retirement Act
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0018| to allow certain persons who are former civilian prisoners of
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0019| war to purchase up to five years of Public Employees Retirement
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0020| Act service credit for the period of internment as a civilian
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0021| prisoner of war; and
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0022| WHEREAS, in existing law, a member of the public employees
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0023| retirement association who entered an armed service of the
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0024| United States may purchase credited service for periods of
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0025| active duty; and
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0001| WHEREAS, the current policy of the state recognizes those
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0002| who have served their country under hardship and danger,
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0003| disrupting work time or development of a career without
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0004| contribution in either time or money toward a retirement plan;
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0005| and
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0006| WHEREAS, civilian prisoners of war captured while in
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0007| service to the United States while employed by a contractor of
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0008| the federal government should be allowed to purchase credited
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0009| service under the Public Employees Retirement Act on the same
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0010| basis as members who were in the United States armed services;
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0011| and
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0012| WHEREAS, concern has been raised that the qualified status
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0013| of the Public Employees Retirement Act as a governmental plan
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0014| is in jeopardy if service credit is granted to civilian
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0015| employees of private contractors with the federal government;
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0016| and
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0017| WHEREAS, if a plan fails to meet the qualification
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0018| requirements, the tax advantages to the plan and its members
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0019| could be lost during the period the qualification requirements
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0020| are not met; and
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0021| WHEREAS, the exception to the rule that Public Employees
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0022| Retirement Act service credit must be rendered to an affiliated
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0023| public employer or to an entity taken over by an affiliated
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0024| public employer is for military service, thus protecting
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0025| persons serving in the military from losing employment
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0001| benefits; and
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0002| WHEREAS, civilian prisoners of war have no such
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0003| protection;
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0004| NOW, THEREFORE, BE IT RESOLVED BY THE LEGISLATURE OF THE
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0005| STATE OF NEW MEXICO that the public employees retirement
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0006| association be requested to seek written tax advice from the
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0007| internal revenue service regarding the effect on the
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0008| association's tax status of allowing the purchase of service
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0009| credit by members who are former civilian prisoners of war and
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0010| were captured while employed by a contractor with the federal
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0011| government; and
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0012| BE IT FURTHER RESOLVED that a copy of this memorial be
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0013| transmitted to the public employees retirement association and
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0014| to the retirement board.
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0015|
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0016|
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0017| FORTY-THIRD LEGISLATURE
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0018| FIRST SESSION, 1997
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0019|
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0020|
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0021| March 6, 1997
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0022|
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0023| Mr. President:
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0024|
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0025| Your RULES COMMITTEE, to whom has been referred
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0001|
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0002| SENATE JOINT MEMORIAL 39
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0003|
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0004| has had it under consideration and reports same with
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0005| recommendation that it DO PASS.
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0006|
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0007| Respectfully submitted,
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0008|
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0009|
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0010|
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0011|
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0012| __________________________________
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0013| Gloria Howes, Chairman
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0014|
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0015|
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0016|
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0017| Adopted_______________________ Not
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0018| Adopted_______________________
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0019| (Chief Clerk) (Chief Clerk)
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0020|
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0021|
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0022|
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0023| Date ________________________
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0024|
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0025|
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0001| The roll call vote was 6 For 0 Against
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0002| Yes: 6
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0003| No: 0
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0004| Excused: Altamirano, Gorham
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0005| Absent: None
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0006|
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0007|
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0008| SJ039RU1
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0009| State of New Mexico
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0010| House of Representatives
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0011|
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0012| FORTY-THIRD LEGISLATURE
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0013| FIRST SESSION, 1997
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0014|
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0015|
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0016| March 17, 1997
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0017|
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0018|
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0019| Mr. Speaker:
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0020|
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0021| Your TAXATION AND REVENUE COMMITTEE, to whom has
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0022| been referred
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0023|
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0024| SENATE JOINT MEMORIAL 39
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0025|
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0001| has had it under consideration and reports same with
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0002| recommendation that it DO PASS.
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0003|
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0004| Respectfully submitted,
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0005|
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0006|
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0007|
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0008|
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0009| Jerry W. Sandel, Chairman
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0010|
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0011|
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0012| Adopted Not Adopted
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0013|
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0014| (Chief Clerk) (Chief Clerk)
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0015|
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0016| Date
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0017|
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0018| The roll call vote was 11 For 0 Against
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0019| Yes: 11
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0020| Excused: Lovejoy, Porter
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0021| Absent: None
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0022|
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0023|
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0024| G:\BILLTEXT\BILLW_97\SJ039
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