HOUSE BILL 77

55th legislature - STATE OF NEW MEXICO - second session, 2022

INTRODUCED BY

Patricia Roybal Caballero

 

 

 

ENDORSED BY THE INVESTMENTS AND PENSIONS OVERSIGHT COMMITTEE

 

AN ACT

RELATING TO STATE INVESTMENTS; REQUIRING PARITY OF PAY FOR CERTAIN INVESTMENT STAFF; PERMITTING AN EMPLOYER TO PROVIDE ALTERNATIVE QUALIFICATIONS FOR CERTAIN INVESTMENT STAFF.

 

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

     SECTION 1. A new section of the Personnel Act is enacted to read:

     "[NEW MATERIAL] INVESTMENT STAFF--CLASSIFICATION AND PAY PLANS--QUALIFICATIONS.--

          A. Each year, the board, in consultation with the executive director of the public employees retirement association, the director of the educational retirement board, the state investment council and the state treasurer, shall establish classification and pay plans for the following positions; provided that the board shall ensure parity of pay for similar positions across each agency:

                (1) chief investment officer, deputy chief investment officer and staff investment managers of the public employees retirement association;

                (2) chief investment officer, deputy chief investment officer and staff investment managers of the educational retirement board;

                (3) state investment officer, deputy state investment officer and staff investment managers of the state investment office; and

                (4) chief investment officer, deputy chief investment officer and staff investment managers of the state treasurer's office.

          B. The board shall establish the qualifications necessary to be employed as and perform the duties of the positions listed in Subsection A of this section; provided that the employer of that position may determine that an individual possesses alternative qualifications to be employed in that position, including previous professional experience, knowledge and related performance. In the event that the employer determines that an individual possesses alternative qualifications, the employer shall provide to the board a list of those qualifications."

     SECTION 2. Section 10-9-5 NMSA 1978 (being Laws 1978, Chapter 96, Section 1, as amended) is amended to read:

     "10-9-5. PUBLIC OFFICERS AND PUBLIC EMPLOYEES--EXECUTIVE BRANCH--ANNUAL EXEMPT SALARIES PLAN.--

          A. The department of finance and administration shall prepare, by December 1 of each year, an exempt salaries plan for the governor's approval [The plan shall specify] that specifies salary ranges for the following public officer and public employee positions of the executive branch of government:

                (1) members of boards and commissions appointed by the governor;

                (2) heads of agencies or departments appointed by the governor;

                (3) heads of agencies or departments appointed by the respective boards and commissions of the agencies;

                (4) directors of department divisions;

                (5) employees in the governor's office;

                (6) positions in the state militia and the commissioned officers of the New Mexico state police division of the department of public safety;

                (7) assistants and secretaries in the offices of each official covered by Paragraphs (2) and (3) [and (10)] of this subsection;

                (8) temporary positions of a professional or scientific nature [which are temporary in nature]; and

                (9) state employees whose positions the [personnel] board has classified as [policy-making] policymaking positions and exempt employees of elective public officials [and

                (10) secretaries of departments appointed by the governor].

          B. Excluded from the provisions of this section are:

                (1) employees of the [commission on] higher education [and] department;

                (2) employees of state educational institutions named in Article 12, Section 11 of the constitution of New Mexico;

                (3) the chief investment officer, deputy chief investment officer and staff investment managers of the public employees retirement association;

                (4) the chief investment officer, deputy chief investment officer and staff investment managers of the educational retirement board;

                (5) the state investment officer, deputy state investment officer and staff investment managers of the state investment office; and

                (6) the chief investment officer, deputy chief investment officer and staff investment managers of the state treasurer's office.

          C. The exempt salaries plan for the ensuing fiscal year, as prepared by the department of finance and administration and approved by the governor, shall be published as a part of the executive budget document presented to the legislature at its next regular session following the preparation of the plan.

          D. Upon the governor's approval, the plan shall take effect at the beginning of the subsequent fiscal year."

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