0001| HOUSE BILL 193
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0002| 43RD LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, 1998
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0003| INTRODUCED BY
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0004| BEN LUJAN
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0007|
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0008|
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0009|
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0010| AN ACT
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0011| RELATING TO PUBLIC EMPLOYEES; PROVIDING FOR PURCHASE OF
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0012| SERVICE CREDIT FOR RETIREMENT PURPOSES BY CERTAIN PUBLIC
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0013| EMPLOYEES FOR CERTAIN PRIOR EMPLOYMENT WITH THE UNITED STATES
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0014| DEPARTMENT OF ENERGY.
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0015|
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0016| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0017| Section 1. Section 10-11-141 NMSA 1978 (being Laws 1993,
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0018| Chapter 29, Section 1, as amended) is amended to read:
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0019| "10-11-141. PURCHASE OF SERVICE CREDIT.--An affiliated
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0020| public employer that assumes a firefighting function
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0021| previously provided by the United States [government]
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0022| department of energy may, at the time of the assumption of
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0023| the firefighting function, provide credited service for
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0024| retirement board purposes to any employees who were previously
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0025| employed by a firefighting unit of the United States
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0001| [government] department of energy at the Los Alamos area
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0002| office in connection with the assumed firefighting function
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0003| or were previously employed as security inspectors in a
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0004| protective force of the United States department of energy at
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0005| the Los Alamos area office. The credited service may be
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0006| provided by the affiliated public employer subject to the
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0007| following conditions:
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0008| A. the employee shall pay to the [public
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employees'] retirement board the difference between the
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0010| actuarial present value of association benefits likely to be
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0011| paid the employee computed with and without the United States
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0012| [government] department of energy service;
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0013| B. the employee, within one year of the assumption
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0014| of the governmental function, irrevocably forfeits all rights
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0015| based upon employee contributions in and to the immediate
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0016| vested or nonvested retirement benefits under the retirement
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0017| program of the United States [government] department of
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0018| energy in which the employee was participating immediately
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0019| prior to the assumption of the governmental function; [and]
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0020| C. the payments made under Subsections A and B of
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0021| this section shall be made in a lump sum [or by entering into
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an installment contract for up to thirty-six months with the
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retirement board at the regular interest rates and under the
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standard conditions set for such installment contracts by that
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board]. The employee may purchase service credit equivalent
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0001| to the employee's service in a firefighting unit of the United
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0002| States department of energy at the Los Alamos area office or
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0003| as a security inspector or in a protective force of the United
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0004| States department of energy at the Los Alamos area office.
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0005| The employee shall make a written election concerning payment
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0006| and payment shall be made not later than December 1,
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0007| [1996] 1998, and any election made thereafter shall be
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0008| void; and
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0009| D. the amount of service credit purchased
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0010| pursuant to this section shall not exceed five years."
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0011| Section 2. EFFECTIVE DATE--CONTINGENCY--INTERNAL SERVICE
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0012| RULING.--The effective date of the provisions of this act is
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0013| July 1, 1998 unless the public employees retirement
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0014| association receives an unfavorable ruling relating to the
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0015| provisions of this act from the internal revenue service.
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