0001| SENATE BILL 1083 | 0002| 43rd legislature - STATE OF NEW MEXICO - first session, 1997 | 0003| INTRODUCED BY | 0004| R. L. STOCKARD | 0005| | 0006| | 0007| | 0008| | 0009| | 0010| AN ACT | 0011| RELATING TO PUBLIC EMPLOYEE RETIREMENT; PROVIDING FOR EXEMPTION | 0012| FROM MEMBERSHIP FOR CERTAIN RETIRED MEMBERS WHO ARE EMPLOYED TO | 0013| PROVIDE SECURITY SERVICES TO LEGISLATIVE BUILDINGS. | 0014| | 0015| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0016| Section 1. Section 10-11-8 NMSA 1978 (being Laws 1987, | 0017| Chapter 253, Section 8, as amended) is amended to read: | 0018| "10-11-8. NORMAL RETIREMENT--SUSPENSION.-- | 0019| A. A member may retire upon fulfilling the | 0020| following requirements: | 0021| (1) a written application for normal | 0022| retirement, in the form prescribed by the association, is filed | 0023| with the association prior to the selected date of retirement; | 0024| (2) employment is terminated with all | 0025| employers covered by any state system or the educational | 0001| retirement system prior to the selected date of retirement; | 0002| (3) the member selects an effective date of | 0003| retirement that is the first day of a calendar month; and | 0004| (4) the member meets the age and service | 0005| credit requirement for normal retirement specified in the | 0006| coverage plan applicable to the member. | 0007| B. The amount of normal retirement pension is | 0008| determined in accordance with the coverage plan applicable to | 0009| the member. | 0010| C. If a member retires and is subsequently employed | 0011| by any affiliated public employer, the retired member's pension | 0012| will be suspended effective the first day of the month | 0013| following the month in which the previously retired member | 0014| earns one hundred percent or more of the amount that causes a | 0015| decrease or suspension of an old age benefit under the federal | 0016| social security program or fifteen thousand dollars ($15,000), | 0017| whichever is less. When the pension is suspended, the | 0018| following conditions shall apply: | 0019| (1) the retired member who is subsequently | 0020| employed by an affiliated public employer shall become a | 0021| member. The previously retired member and the subsequent | 0022| affiliated public employer shall make the required employee and | 0023| employer contributions, and the previously retired member shall | 0024| accrue service credit for the period of subsequent employment; | 0025| and | 0001| (2) when a previously retired member | 0002| terminates the subsequent employment with an affiliated public | 0003| employer, he shall retire according to the provisions of the | 0004| Public Employees Retirement Act, subject to the following | 0005| conditions: | 0006| (a) payment of the pension shall resume | 0007| in accordance with the provisions of Subsection A of this | 0008| section; | 0009| (b) unless the previously retired member | 0010| accrued at least three years of service credit on account of | 0011| the subsequent employment, the recalculation of pension shall: | 0012| 1) employ the form of payment selected by the previously | 0013| retired member at the time of the first retirement; and 2) use | 0014| the provisions of the coverage plan applicable to the member on | 0015| the date of the first retirement; and | 0016| (c) the recalculated pension shall not | 0017| be less than the amount of the suspended pension. | 0018| D. The provisions of Subsection C of this section | 0019| shall not apply to a retired member who is appointed chief of | 0020| police of an affiliated public employer, other than of the | 0021| affiliated public employer from which retired, [or] who is | 0022| appointed undersheriff or who is a former state police member | 0023| employed to provide security services to buildings controlled | 0024| by the New Mexico legislative council pursuant to Sections 2-3- | 0025| 4 and 2-3-6 NMSA 1978, if the retired member files an | 0001| irrevocable exemption from membership with the association | 0002| within thirty days of appointment or employment. For | 0003| purposes of this subsection, each sheriff's office shall be | 0004| limited to one undersheriff. The irrevocable exemption shall | 0005| be for the chief of police's or the undersheriff's term of | 0006| office or the former state police member's term of | 0007| employment. Filing of an irrevocable exemption shall | 0008| irrevocably bar the retired member from acquiring service | 0009| credit for the period of exemption from membership. | 0010| E. The provisions of Subsection C of this section | 0011| shall not apply to any retired member who is subsequently | 0012| employed by an employer who is not an affiliated public | 0013| employer. | 0014| F. The provisions of Subsection C of this section | 0015| shall not apply to a retired member who is elected to serve a | 0016| term as an elected official if the retired member files an | 0017| irrevocable exemption from membership with the association | 0018| within thirty days of taking office. Filing of an irrevocable | 0019| exemption shall irrevocably bar the retired member from | 0020| acquiring service credit for the period of exemption from | 0021| membership. | 0022| G. The pension of a member who has three or more | 0023| years of service credit under each of two or more coverage | 0024| plans shall be determined in accordance with the coverage plan | 0025| that produces the highest pension. The pension of a member who | 0001| has service credit under two or more coverage plans but who has | 0002| three or more years of service credit under only one of those | 0003| coverage plans shall be determined in accordance with the | 0004| coverage plan in which the member has three or more years of | 0005| service credit. If the service credit is acquired under two | 0006| different coverage plans applied to the same affiliated public | 0007| employer as a consequence of an election by the members, | 0008| adoption by the affiliated public employer or a change in the | 0009| law that results in the application of a coverage plan with a | 0010| greater pension, the greater pension shall be paid a member | 0011| retiring from the affiliated public employer under which the | 0012| change in coverage plan took place regardless of the amount of | 0013| service credit under the coverage plan producing the greater | 0014| pension, provided the member has three or more years of | 0015| continuous employment with that affiliated public employer | 0016| immediately preceding or immediately preceding and immediately | 0017| following the date the coverage plan changed. The provisions | 0018| of each coverage plan for the purpose of this subsection shall | 0019| be those in effect at the time the member ceased to be covered | 0020| by the coverage plan. "Service credit", for the purposes of | 0021| this subsection, shall be only personal service rendered an | 0022| affiliated public employer and credited to the member under the | 0023| provisions of Subsection A of Section 10-11-4 NMSA 1978. | 0024| Service credited under any other provision of the Public | 0025| Employees Retirement Act shall not be used to satisfy the | 0001| three-year service credit requirement of this subsection." | 0002|  | 0003| | 0004| | 0005| FORTY-THIRD LEGISLATURE | 0006| FIRST SESSION, 1997 | 0007| | 0008| | 0009| March 10, 1997 | 0010| | 0011| Mr. President: | 0012| | 0013| Your PUBLIC AFFAIRS COMMITTEE, to whom has been | 0014| referred | 0015| | 0016| SENATE BILL 1083 | 0017| | 0018| has had it under consideration and reports same with | 0019| recommendation that it DO PASS. | 0020| | 0021| Respectfully submitted, | 0022| | 0023| | 0024| | 0025| | 0001| __________________________________ | 0002| Shannon Robinson, Chairman | 0003| | 0004| | 0005| | 0006| Adopted_______________________ Not | 0007| Adopted_______________________ | 0008| (Chief Clerk) (Chief Clerk) | 0009| | 0010| | 0011| | 0012| Date ________________________ | 0013| | 0014| | 0015| The roll call vote was 5 For 0 Against | 0016| Yes: 5 | 0017| No: 0 | 0018| Excused: Adair, Boitano, Vernon, Smith | 0019| Absent: None | 0020| | 0021| | 0022| S1083PA1 |