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

RELATING TO EDUCATIONAL RETIREMENT; PROVIDING A THREE-YEAR TIME PERIOD IN WHICH A RETIRED MEMBER MAY RETURN TO EMPLOYMENT AND NOT BE REQUIRED TO SUSPEND RETIREMENT BENEFITS; REQUIRING AT LEAST A THIRTY-DAY BREAK IN EMPLOYMENT; AMENDING A SECTION OF 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. Beginning [January 1] July 1, 2002 and continuing until [January 1, 2012] June 30, 2005, 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] thirty consecutive days 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] thirty consecutive days of retirement, the retired member shall remove himself from retirement.

B. A retired member who returns to employment during retirement pursuant to Subsection A 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

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."

Section 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2002.