HOUSE BILL 156

49th legislature - STATE OF NEW MEXICO - first session, 2009

INTRODUCED BY

Al Park

AN ACT

RELATING TO PUBLIC EMPLOYEES RETIREMENT; REQUIRING THE PUBLIC EMPLOYEES RETIREMENT ASSOCIATION TO PROVIDE NOTICE TO MEMBERS WHEN THEY MEET MINIMUM REQUIREMENTS FOR NORMAL RETIREMENT AND WHEN REQUIREMENTS OR BENEFITS ARE CHANGED.

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

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

     "[NEW MATERIAL] NOTICE OF ELIGIBILITY AND CHANGES IN BENEFITS.--The association shall give written notice, to the member's last known address of record, to a member when:

          A. the member meets the minimum age and service requirements for normal retirement pursuant to the coverage plan applicable to the member; or

           B. when a change has been made, by law or rule, to a retirement requirement that applied to the member prior to the change or to the amount of normal retirement pension for which the member would have been eligible prior to the change."

     Section 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2009.

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