SENATE BILL 529

50th legislature - STATE OF NEW MEXICO - first session, 2011

INTRODUCED BY

Michael S. Sanchez

AN ACT

RELATING TO PUBLIC EMPLOYEE RETIREMENT; INCREMENTALLY INCREASING THE EMPLOYEE CONTRIBUTION RATES FOR MUNICIPAL FIREFIGHTER PLANS.

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

     SECTION 1. Section 10-11-90 NMSA 1978 (being Laws 1987, Chapter 253, Section 90, as amended) is amended to read:

     "10-11-90. MUNICIPAL FIRE MEMBER COVERAGE PLAN 1--MEMBER CONTRIBUTION RATE.--A member under municipal fire member coverage plan 1 shall contribute [eight percent] a percentage of salary pursuant to the following schedule:

          A. through June 30, 2011, the contribution rate shall be eight percent of the salary of each member;

          B. from July 1, 2011 through June 30, 2012, the contribution rate shall be nine percent of the salary of each member;

          C. from July 1, 2012 through June 30, 2013, the contribution rate shall be ten percent of the salary of each member;

          D. from July 1, 2013 through June 30, 2014, the contribution rate shall be eleven percent of the salary of each member; and

          E. on and after July 1, 2014, the contribution rate shall be twelve percent of the salary of each member."

     SECTION 2. Section 10-11-96 NMSA 1978 (being Laws 1987, Chapter 253, Section 96, as amended) is amended to read:

     "10-11-96. MUNICIPAL FIRE MEMBER COVERAGE PLAN 2--MEMBER CONTRIBUTION RATE.--A member under municipal fire member coverage plan 2 shall contribute [eight percent] a percentage of salary pursuant to the following schedule:

          A. through June 30, 2011, the contribution rate shall be eight percent of the salary of each member;

          B. from July 1, 2011 through June 30, 2012, the contribution rate shall be nine percent of the salary of each member;

          C. from July 1, 2012 through June 30, 2013, the contribution rate shall be ten percent of the salary of each member;

          D. from July 1, 2013 through June 30, 2014, the contribution rate shall be eleven percent of the salary of each member; and

          E. on and after July 1, 2014, the contribution rate shall be twelve percent of the salary of each member."

     SECTION 3. Section 10-11-102 NMSA 1978 (being Laws 1987, Chapter 253, Section 102, as amended) is amended to read:

     "10-11-102. MUNICIPAL FIRE MEMBER COVERAGE PLAN 3--MEMBER CONTRIBUTION RATE.--A member under municipal fire member coverage plan 3 shall contribute [eight percent] a percentage of salary pursuant to the following schedule:

          A. through June 30, 2011, the contribution rate shall be eight percent of the salary of each member;

          B. from July 1, 2011 through June 30, 2012, the contribution rate shall be nine percent of the salary of each member;

          C. from July 1, 2012 through June 30, 2013, the contribution rate shall be ten percent of the salary of each member;

          D. from July 1, 2013 through June 30, 2014, the contribution rate shall be eleven percent of the salary of each member; and

          E. on and after July 1, 2014, the contribution rate shall be twelve percent of the salary of each member."

     SECTION 4. Section 10-11-108 NMSA 1978 (being Laws 1987, Chapter 253, Section 108, as amended) is amended to read:

     "10-11-108. MUNICIPAL FIRE MEMBER COVERAGE PLAN 4--MEMBER CONTRIBUTION RATE.--A member under municipal fire member coverage plan 4 shall contribute [twelve and eight-tenths percent] a percentage of salary pursuant to the following schedule:

          A. through June 30, 2011, the contribution rate shall be twelve and eight-tenths percent of the salary of each member;

          B. from July 1, 2011 through June 30, 2012, the contribution rate shall be thirteen and eight-tenths percent of the salary of each member;

          C. from July 1, 2012 through June 30, 2013, the contribution rate shall be fourteen and eight-tenths percent of the salary of each member;

          D. from July 1, 2013 through June 30, 2014, the contribution rate shall be fifteen and eight-tenths percent of the salary of each member; and

          E. on and after July 1, 2014, the contribution rate shall be sixteen and eight-tenths percent of the salary of each member."

     SECTION 5. Section 10-11-114 NMSA 1978 (being Laws 1987, Chapter 253, Section 114, as amended) is amended to read:

     "10-11-114. MUNICIPAL FIRE MEMBER COVERAGE PLAN 5--MEMBER CONTRIBUTION RATE.--A member under municipal fire member coverage plan 5 shall contribute [sixteen and two-tenths percent] a percentage of salary pursuant to the following schedule:

          A. through June 30, 2011, the contribution rate shall be sixteen and two-tenths percent of the salary of each member;

          B. from July 1, 2011 through June 30, 2012, the contribution rate shall be seventeen and two-tenths percent of the salary of each member;

          C. from July 1, 2012 through June 30, 2013, the contribution rate shall be eighteen and two-tenths percent of the salary of each member;

          D. from July 1, 2013 through June 30, 2014, the contribution rate shall be nineteen and two-tenths percent of the salary of each member; and

          E. on and after July 1, 2014 the contribution rate shall be twenty and two-tenths percent of the salary of each member."

     SECTION 6. CONTINGENT ENACTMENT AND EFFECTIVE DATE.--

          A. If any law is enacted by the fiftieth legislature in the first session of 2011 that increases the age and service requirements in Sections 10-11-87, 10-11-93,

10-11-99, 10-11-105 or 10-11-111 NMSA 1978 to require a minimum of twenty-five or more years of service, this act shall not take effect.

          B. Subject to Subsection A of this section, the effective date of this act is July 1, 2011.