45th legislature - STATE OF NEW MEXICO - second session, 2002

RELATING TO EDUCATIONAL RETIREMENT; PROVIDING FOR RETURN TO EMPLOYMENT; CONTINUING RETIREMENT BENEFITS; AMENDING THE EDUCATIONAL RETIREMENT ACT.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

Section 1. Section 22-11-25.1 NMSA 1978 (being Laws 2001, Chapter 283, Section 2) is amended to read:

"22-11-25.1. RETURN TO EMPLOYMENT--BENEFITS CONTINUED--ADMINISTRATIVE UNIT CONTRIBUTIONS.--

A. Except as provided in Subsection D of this section, beginning January 1, 2002 and continuing until January 1, 2012, a retired member may begin employment at a local administrative unit and shall not be required to suspend retirement benefits if the member has not been employed as an employee or independent contractor by a local administrative unit for at least twelve consecutive months from the date of retirement to the commencement of employment or reemployment with a local administrative unit. If the retired member returns to employment without first completing twelve consecutive months of retirement, the retired member shall remove himself from retirement.

B. A retired member who returns to employment during retirement pursuant to Subsection A or D of this section is entitled to continue to receive retirement benefits but is not entitled to acquire service credit or to acquire or purchase service credit in the future for the period of the retired member's reemployment with a local administrative unit.

C. A retired member who returns to employment pursuant to Subsection A or D of this section shall not make contributions to the fund as specified in the

Educational Retirement Act; however, the local administrative

unit's contributions as specified in that act shall be paid

to the fund as if the retired member was a non-retired

employee.

D. A retired member who was retired on or before January 1, 2001 and has not since suspended retirement benefits and become reemployed by a local administrative unit may begin employment at a local administrative unit and shall not be required to suspend retirement benefits."