HOUSE BILL 109

47th legislature - STATE OF NEW MEXICO - first session, 2005

INTRODUCED BY

Al Park

AN ACT

RELATING TO EDUCATIONAL RETIREMENT; PROVIDING THAT CERTAIN PART-TIME EMPLOYEES WHO ARE MEMBERS OF ANOTHER STATE RETIREMENT SYSTEM SHALL NOT MAKE CONTRIBUTIONS PURSUANT TO THE EDUCATIONAL RETIREMENT ACT.

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

     Section 1. A new section of the Educational Retirement Act is enacted to read:

     "[NEW MATERIAL] PART-TIME EMPLOYEES WHO ARE MEMBERS OF ANOTHER STATE RETIREMENT SYSTEM.--

          A. An employee who is employed less than full time by a local administrative unit and a contributing member of a retirement system administered by the retirement board of the public employees retirement association shall not make contributions to the fund as otherwise required in the Educational Retirement Act.

          B. An employee prohibited from making contributions pursuant to Subsection A of this section is not entitled to acquire service credit or to acquire or purchase service credit in the future for the period of employment with a local administrative unit.

          C. Nothing in this section affects the obligation of a local administrative unit to make contributions to the fund as required in the Educational Retirement Act."

     Section 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2005.

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