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§ 10-11-26.6 NMSA 1978

State general member coverage plan 3; state contribution rate

Known as the Public Employees Retirement Act

The act spans §§ 10-11-1 to 10-11-99 (201 sections).

Laws 1994, ch. 128, § 7; 2009, ch. 127, § 2; 2011, ch. 178, § 2; 2013, ch. 225, § 13; 2019, ch. 237, § 1; 2020, ch. 11, § 6.

The state shall contribute the following percentages of the salary of each member covered by state general member coverage plan 3 starting with the first pay period that ends within the calendar month in which state general member coverage plan 3 becomes applicable to the member:

A. beginning July 1, 2020 and continuing through June 30, 2021, seventeen and seventy-four hundredths percent of salary;

B. beginning July 1, 2021 and continuing through June 30, 2022, eighteen and twenty-four hundredths percent of salary;

C. beginning July 1, 2022 and continuing through June 30, 2023, eighteen and seventy-four hundredths percent of salary; and

D. beginning July 1, 2023 and thereafter, nineteen and twenty-four hundredths percent of salary.

Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.