HOUSE MEMORIAL 29

46th legislature - STATE OF NEW MEXICO - second session, 2004

INTRODUCED BY

James G. Taylor

A MEMORIAL

REQUESTING THE NEW MEXICO LEGISLATIVE COUNCIL TO DIRECT THE APPROPRIATE INTERIM COMMITTEE TO EXAMINE WHETHER MEMBERS OF THE PUBLIC EMPLOYEES RETIREMENT ASSOCIATION SHOULD BE ALLOWED TO PURCHASE SERVICE CREDIT FOR PREVIOUS TEMPORARY EMPLOYMENT.

     WHEREAS, many public employees in New Mexico began their careers as temporary employees; and

     WHEREAS, these employees are now regular members of the public employees retirement association with vested rights but, under existing law, cannot receive any service credit for the time served as a temporary employee; and

     WHEREAS, any change in the law to allow service credit for prior temporary employment needs to be structured so that the actuarial integrity of the retirement fund is not jeopardized;

     NOW, THEREFORE, BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES OF THE STATE OF NEW MEXICO that the New Mexico legislative council be requested to direct the appropriate interim committee to examine the feasibility of allowing members of the public employees retirement association to purchase service credit for prior service as temporary employees; and

     BE IT FURTHER RESOLVED that copies of this memorial be transmitted to the co-chairs of the New Mexico legislative council and to the retirement board of the public employees retirement association.

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