FORTY-NINTH LEGISLATURE

FIRST SESSION, 2009

February 25, 2009

Mr. Speaker:

    Your HEALTH AND GOVERNMENT AFFAIRS COMMITTEE, to whom has been referred

HOUSE BILL 271

has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:

     1. On page 2, between lines 18 and 19, insert the following new section:

     "Section 2. A new section of the Public Employees Retirement Act, Section 10-11-55.13 NMSA 1978, is enacted to read:

     "10-11-55.13. [NEW MATERIAL] MUNICIPAL GENERAL MEMBER COVERAGE PLAN 4--CALCULATION OF BENEFIT.--Notwithstanding the provisions of Section 10-11-55.9 NMSA 1978, for a member of a designated group that has adopted municipal general member coverage plan 4 in an election held on or after January 1, 2009 and who did not earn, under municipal general member coverage plan 4, all of the total service credit required for retirement, the retirement benefit shall equal the sum of the pension attributable to the service credit earned under municipal general member coverage plan 4 plus the pension attributable to the service credit earned by the member under any previous coverage plan."".