46th legislature - STATE OF NEW MEXICO - first session, 2003

FOR THE LEGISLATIVE EDUCATION STUDY COMMITTEE

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

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 during retirement 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. Beginning July 1, 2003 and continuing until January 1, 2012, a retired member who retired on or before January 1, 2001 and who has not been employed as an employee or independent contractor by a local administrative unit for at least ninety days may begin employment at a local administrative unit without suspending retirement benefits if the retired member was not employed by a local administrative unit for an additional twelve or more consecutive months after the initial date of retirement."