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A MEMORIAL

REQUESTING THE PUBLIC EMPLOYEES RETIREMENT ASSOCIATION TO

PROVIDE THE INTERIM LEGISLATIVE INVESTMENTS AND PENSIONS

OVERSIGHT COMMITTEE WITH INFORMATION ON PARTICIPATION IN

RETURN TO EMPLOYMENT BY RETIREES.

WHEREAS, the option to return to employment while

continuing to receive a retirement pension was provided to

public employees retirement association retirees by the

legislature in 2003 by amendment of Section 10-11-8 NMSA 1978;

and

WHEREAS, in the intervening years, a number of retired

employees have taken advantage of this opportunity; and

WHEREAS, there are concerns that the return to

employment by retirees has hampered the upward mobility of

other qualified employees and has created morale problems in

public employees; and

WHEREAS, the overall fiscal impact on state and local

governments of the return to employment by retirees is

unclear; and

WHEREAS, to properly evaluate the return to employment

program, the legislature needs detailed information on

participation in the return to employment program but has been

unable to obtain this information;

NOW, THEREFORE, BE IT RESOLVED BY THE HOUSE OF

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REPRESENTATIVES OF THE STATE OF NEW MEXICO that the public

employees retirement association be requested to assemble

detailed information on the number of retirees who have

returned to employment, the number of years of subsequent

employment of these retirees, the number of these retirees

subsequently employed by each department, agency and political

subdivision of the state and the amount of retirement pension

and salary these retirees have received during the subsequent

employment; and

BE IT FURTHER RESOLVED that the public employees

retirement association provide this detailed information, in

whatever aggregated form is necessary to protect the privacy

of the individual retirees, to the interim legislative

investments and pensions oversight committee, or other

appropriate interim legislative committee, prior to November

30, 2007; and

BE IT FURTHER RESOLVED that copies of this memorial be

transmitted to the executive director of the public employees

retirement association and the co-chairs of the New Mexico

legislative council.