0001| SENATE BILL 121 | 0002| 43rd legislature - STATE OF NEW MEXICO - first session, 1997 | 0003| INTRODUCED BY | 0004| RICHARD M. ROMERO | 0005| | 0006| | 0007| | 0008| | 0009| | 0010| AN ACT | 0011| RELATING TO EDUCATIONAL RETIREMENT; ALLOWING VOCATIONAL | 0012| EDUCATION TEACHERS TO PURCHASE PRIVATE SECTOR VOCATIONAL | 0013| EMPLOYMENT SERVICE-CREDIT. | 0014| | 0015| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0016| Section 1. Section 22-11-34 NMSA 1978 (being Laws 1967, | 0017| Chapter 16, Section 157, as amended) is amended to read: | 0018| "22-11-34. ALLOWED SERVICE-CREDIT.-- | 0019| A. A member shall be certified to have acquired | 0020| allowed service-credit for those periods of time when he was: | 0021| (1) employed prior to the effective date of | 0022| the Educational Retirement Act in any federal educational | 0023| program within New Mexico, including United States Indian | 0024| schools and civilian conservation corps camps. This service- | 0025| credit shall be allowed without contribution; | 0001| (2) engaged in military service that | 0002| interrupted his employment in New Mexico, if he returned to his | 0003| employment within eighteen months following honorable | 0004| discharge. This service-credit shall be allowed without | 0005| contribution; | 0006| (3) engaged in United States military service | 0007| or the commissioned corps of the public health service from | 0008| which he was honorably discharged if he contributes to the fund | 0009| a sum equal to ten and one-half percent of his average annual | 0010| salary for that period of time for which he has acquired earned | 0011| service-credit under the Educational Retirement Act for each | 0012| year of service-credit he desires to purchase. Average annual | 0013| salary shall be determined in accordance with rules promulgated | 0014| by the board, but shall always be based upon actual salaries | 0015| earned by the member where the actual salaries can be | 0016| ascertained by the board. The employer's contributions for | 0017| service-credit shall not be paid by the employer. The purchase | 0018| of service-credit provided in this ~~[section]~~ paragraph | 0019| shall be carried out by the member prior to July 1, 1992 or | 0020| within three years after the date of the member's employment | 0021| following service, whichever is later; or | 0022| (4) employed: | 0023| (a) in any public school or public | 0024| institution of higher learning in another state, territory or | 0025| possession of the United States; | 0001| (b) in any United States military | 0002| dependents' school operated by a branch of the armed forces of | 0003| the United States; | 0004| (c) as provided in Paragraph (1) of this | 0005| subsection after the effective date of the Educational | 0006| Retirement Act; ~~[or]~~ | 0007| (d) in any private school or institution | 0008| of higher learning in New Mexico whose education program is | 0009| accredited or approved by the state board at the time of | 0010| employment; or | 0011| (e) in a skill or trade in the private | 0012| sector if the member is a vocational education teacher; | 0013| provided that the state board of education shall certify to the | 0014| board that the vocational employment the member proposes to | 0015| purchase is applicable to his teaching duties; and provided | 0016| further that the allowed service-credit shall not exceed two | 0017| years. | 0018| B. The member or employer under Paragraph (4) of | 0019| Subsection A of this section shall contribute to the fund for | 0020| each year of allowed service-credit desired an amount equal to | 0021| twelve percent of the member's annual salary at the time | 0022| payment is made if the member is employed or twelve percent | 0023| times the member's annual salary during the member's last year | 0024| of employment if the member is not employed at the time of | 0025| payment. Contributions paid for the member who is not employed | 0001| shall bear interest at the average rate earned by the fund | 0002| during the five-fiscal-year period immediately preceding the | 0003| date of payment. Such interest shall run from the date the | 0004| member last terminated employment to the date of payment. | 0005| Payment pursuant to Paragraph (4) of Subsection A of this | 0006| section may be made in installments, at the discretion of the | 0007| board, over a period of not to exceed one year, and, if the sum | 0008| paid does not equal the amount required for any full year of | 0009| allowed service-credit, the member shall acquire allowed | 0010| service-credit for that period of time which is proportionate | 0011| to the payment made. Half credit may be allowed without | 0012| contribution for not more than ten years of the educational | 0013| service described by Subparagraph (a) of Paragraph (4) of | 0014| Subsection A of this section if that service was prior to June | 0015| 13, 1953 and if the member was employed in New Mexico prior to | 0016| June 13, 1953 in any position covered by the Educational | 0017| Retirement Act or any law repealed thereby. | 0018| C. No member shall be certified to have acquired | 0019| allowed service-credit: | 0020| (1) under any single paragraph or the | 0021| combination of only Paragraphs (1) and (4) or only Paragraphs | 0022| (2) and (3) of Subsection A of this section in excess of five | 0023| years; or | 0024| (2) in excess of ten years for any other | 0025| combination of Paragraphs (1) through (4) of Subsection A of | 0001| this section. | 0002| D. The provisions of this section are made | 0003| applicable to the services described prior to as well as after | 0004| the effective date of the Educational Retirement Act." | 0005| - 5 - | 0006| | 0007| | 0008| | 0009| | 0010| | 0011| | 0012| | 0013| | 0014| | 0015| | 0016| | 0017| | 0018| | 0019| | 0020| | 0021| | 0022| | 0023| | 0024| | 0025| | 0001| | 0002| FORTY-THIRD LEGISLATURE | 0003| FIRST SESSION, 1997 | 0004| | 0005| | 0006| February 19, 1997 | 0007| | 0008| Mr. President: | 0009| | 0010| Your EDUCATION COMMITTEE, to whom has been referred | 0011| | 0012| SENATE BILL 121 | 0013| | 0014| has had it under consideration and reports same with | 0015| recommendation that it DO PASS, and thence referred to the | 0016| FINANCE COMMITTEE. | 0017| | 0018| Respectfully submitted, | 0019| | 0020| | 0021| | 0022| __________________________________ | 0023| Cynthia Nava, Chairman | 0024| | 0025| | 0001| | 0002| Adopted_______________________Not Adopted_______________________ | 0003| (Chief Clerk) (Chief Clerk) | 0004| | 0005| | 0006| Date ________________________ | 0007| | 0008| | 0009| The roll call vote was 5 For 4 Against | 0010| Yes:5 | 0011| No:Boitano, Duran, Gorham, Rawson | 0012| Excused:Garcia | 0013| Absent:None | 0014| | 0015| | 0016| S0121ED1 | 0017| |