HOUSE BILL 636

44TH LEGISLATURE - STATE OF NEW MEXICO - FIRST SESSION, 1999

INTRODUCED BY

Judy Vanderstar Russell

AN ACT

RELATING TO DISSOLUTION OF MARRIAGE; PROHIBITING A SPOUSE'S INTEREST IN THE OTHER SPOUSE'S PUBLIC EMPLOYEE RETIREMENT PLAN FROM INCREASING OR DECREASING AFTER DATE OF DIVORCE.

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

Section 1. A new section of Chapter 40, Article 4 NMSA 1978 is enacted to read:

"[NEW MATERIAL] DIVISION OF PROPERTY--SPOUSE'S INTEREST IN PUBLIC EMPLOYEE RETIREMENT PLAN.--For the purposes of division of property, a spouse's property interest in the other spouse's public employee retirement plan shall be calculated at the time of dissolution of the marriage, and shall not increase or decrease after the date of issuance of the decree of dissolution of marriage."

.126840.1