45th legislature - STATE OF NEW MEXICO - second session, 2002

RELATING TO EDUCATIONAL RETIREMENT; AMENDING THE EDUCATIONAL RETIREMENT ACT TO CLARIFY THE CONDITIONS UNDER WHICH RETIRED MEMBERS MAY RETURN TO EMPLOYMENT.

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

Section 1. Section 22-11-25.1 NMSA 1978 (being Laws 2001, Chapter 283, Section 2) is amended to read:

"22-11-25.1. RETURN TO EMPLOYMENT--BENEFITS CONTINUED--ADMINISTRATIVE UNIT CONTRIBUTIONS.--

A. [Beginning January 1, 2002 and continuing] Until January 1, 2012, a retired member may begin employment at a local administrative unit and shall not be required to suspend retirement benefits if the [member has not been employed as an employee or independent contractor by a local administrative unit] retired member has been receiving or has been eligible to receive retirement benefits for at least twelve consecutive months [from] between the date of retirement [to] and the commencement of employment or reemployment with a local administrative unit. If the retired member returns to employment without first completing twelve consecutive months of retirement, the retired member shall remove himself from retirement.

B. A retired member who returns to employment during retirement pursuant to Subsection A of this section is entitled to continue to receive retirement benefits but is not entitled to acquire service credit or to acquire or purchase service credit in the future for the period of the retired member's reemployment with a local administrative unit.

C. A retired member who returns to employment

shall not make contributions to the fund as specified in the

Educational Retirement Act; however, the administrative

unit's contributions as specified in that act shall be paid

to the fund as if the retired member [was] were a non-retired

employee."