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§ 10-11-55.12 NMSA 1978

Municipal general member coverage plan 4; affiliated public employer contribution rate

Known as the Public Employees Retirement Act

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

Laws 1998, ch. 106, § 6; 2013, ch. 225, § 46; 2019, ch. 237, § 6; 2020, ch. 11, § 27.

An affiliated public employer shall contribute the following percentages of the salary of each member it employs and who is covered under municipal general member coverage plan 4:

A. prior to July 1, 2022, twelve and three-tenths percent of salary;

B. beginning July 1, 2022 and continuing through June 30, 2023, twelve and eight-tenths percent of salary;

C. beginning July 1, 2023 and continuing through June 30, 2024, thirteen and three-tenths percent of salary;

D. beginning July 1, 2024 and continuing through June 30, 2025, thirteen and eight-tenths percent of salary; and

E. beginning July 1, 2025 and thereafter, fourteen and three-tenths 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.