NOTE: As provided in LFC policy, this report is intended for use by the standing finance committees of the legislature.  The Legislative Finance Committee does not assume responsibility for the accuracy of the information in this report when used in any other situation.

The LFC is only preparing FIRs on bills referred to the Senate Finance Committee, the Senate Ways and Means Committee, the House Appropriations and Finance Committee and the House Taxation and Revenue Committee. The chief clerks are responsible for preparing and issuing all other bill analyses.

Only the most recent FIR version, excluding attachments, is available on the Intranet. Previously issued FIRs and attachments may be obtained from the LFC office in Room 416 of the State Capitol Building.

(Parenthesis ( ) Indicate Revenue Decreases)

SOURCES OF INFORMATION

Education Retirement Board (ERB)

Commission on Higher Education (CHE)

SUMMARY

Synopsis of Bill

This bill would give employees who are transferred to a general hospital or an outpatient clinic of the hospital the option to remain as a an Educational Retirement Association (ERA) member if the hospital is operated by a state educational institution. The eligible educational institutions are: UNM, NMSU, NMHU, WNMU, ENMU, NMIMT, NMMI, NMSVH, NMSD, and NNMCC.

FISCAL IMPLICATIONS

The Educational Retirement Board reports that this bill will have no additional impact on their agency. However, University Hospitals will have to resume employer contributions for those members who elect to take advantage of this legislation. To what extent university hospitals will be affected is unknown at this time.

ADMINISTRATIVE IMPLICATIONS

The Education retirement Board Reports that the ERB will experience a slight increase in workload. The ERB notes that the largest administrative impact will be to the University of New Mexico Hospital (UNMH).

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