HOUSE BILL 644
47th legislature - STATE OF NEW MEXICO - second session, 2006
INTRODUCED BY
Richard D. Vigil
AN ACT
RELATING TO PUBLIC EMPLOYEE RETIREMENT; PROVIDING FOR AN INCREASE OF CREDITED SERVICE FOR CERTAIN ADULT CORRECTIONAL OFFICER MEMBERS SPECIFICALLY COVERED BY A COVERAGE PLAN OTHER THAN A STATE POLICE MEMBER AND ADULT CORRECTIONAL OFFICER MEMBER COVERAGE PLAN 1 DURING A CERTAIN PERIOD, BUT WHO SERVED AS ADULT CORRECTIONAL OFFICERS OR ADULT CORRECTIONAL OFFICER SPECIALISTS BETWEEN THE 1980 AND 2003 CALENDAR YEARS; MAKING AN APPROPRIATION.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
Section 1. A new section of the Public Employees Retirement Act is enacted to read:
"[NEW MATERIAL] STATE POLICE AND ADULT CORRECTIONAL OFFICER MEMBERS--CREDITED SERVICE.--An adult correctional officer member specifically covered by a coverage plan other than a state police member and adult correctional officer member coverage plan 1 after January 1, 2003, but before January 1, 2007, shall have actual credited service increased by thirty-three percent for each year within that period for which the adult correctional officer member was covered by a coverage plan other than a state police member and adult correctional officer member coverage plan 1 if the adult correctional officer member between January 1, 1980 and December 31, 2002 has been employed as an adult correctional officer or adult correctional officer specialist by a correctional facility of the corrections department or its successor agency."
Section 2. APPROPRIATION.--Five hundred thousand dollars ($500,000) is appropriated from the general fund to the public employees retirement association for expenditure in fiscal year 2007 and subsequent fiscal years to carry out the provisions of Section 1 of this act. Any unexpended or unencumbered balance remaining at the end of a fiscal year shall not revert to the general fund.
Section 3. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2006.
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