A. An employee who is retired pursuant to the Public Employees Retirement Act [Chapter 10, Article 11 NMSA 1978] and who has not suspended retirement benefits received pursuant to that act shall not make contributions to the fund as otherwise required by the Educational Retirement Act. A local administrative unit that employs such a retiree shall make contributions to the fund as required by that act.
B. An employee who receives retirement benefits pursuant to the Public Employees Retirement Act is not entitled to acquire or purchase service credit for the period of employment with a local administrative unit.
History: Laws 2003, ch. 248, § 1; 2019, ch. 258, § 4; 2020, ch. 10, § 3.
ANNOTATIONSThe 2020 amendment, effective May 20, 2020, exempted retirees under the Public Employees Retirement Act from contribution requirements under the Educational Retirement Act if they have not suspended retirement benefits; in Subsection A, after "shall", added "not"; and deleted former Subsection B, which related to certain employees exempted from contribution requirements, and redesignated the succeeding subsection accordingly.
The 2019 amendment, effective July 1, 2019, provided that an employee hired prior to July 1, 2019 by a local administrative unit as a police officer, who is retired and who has not suspended retirement benefits, shall not make contributions to the fund so long as the employee remains working as a certified police officer, and provided that the local administrative unit that hired the certified police officer shall make contributions to the fund; in Subsection A, after "that act shall", deleted "not", and added the last sentence; added a new Subsection B and redesignated former Subsection B as Subsection C; in Subsection C, after "Retirement Act", deleted "and who does not make contributions to the fund", and after "service credit", deleted "or to acquire or purchase service credit in the future"; and deleted former Subsection C.