0001|                           SENATE BILL 979
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0002|     43rd legislature - STATE OF NEW MEXICO - first session, 1997
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0003|                            INTRODUCED BY
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0004|                          BILLY J. MCKIBBEN
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0005|     
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0006|                                   
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0007|     
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0008|                                   
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0009|     
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0010|                                AN ACT
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0011|     RELATING TO LEGISLATIVE RETIREMENT; PROVIDING FOR REINSTATEMENT
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0012|     OF CERTAIN MEMBERS.
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0013|     
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0014|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0015|          Section 1.  Section 10-11-39 NMSA 1978 (being Laws 1987,
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0016|     Chapter 253, Section 39) is amended to read:
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0017|          "10-11-39.  STATE LEGISLATOR MEMBER COVERAGE PLAN 1--
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0018|     APPLICABILITY.--
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0019|               <u>A.</u>  State legislator member coverage plan 1 is
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0020|     applicable to state legislators and lieutenant governors,
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0021|     <u>including state legislators who withdrew from membership in
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<u></u>0022| <u>    the public employee retirement system pursuant to court
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<u></u>0023| <u>    judgments entered after December 29, 1988 and prior to November
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<u></u>0024| <u>    22, 1995, who are reinstated pursuant to Subsection B of this
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<u></u>0025| <u>    section.
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<u></u>0001| <u>              B.  State legislators who withdrew from membership
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<u></u>0002| <u>    between December 29, 1988 and November 22, 1995, or their
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<u></u>0003| <u>    personal representatives, may apply for and shall be granted
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<u></u>0004| <u>    reinstatement as provided in this subsection.  Application
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<u></u>0005| <u>    shall be made in the manner the association shall prescribe. 
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<u></u>0006| <u>    Those who withdrew their contributions shall repay all amounts
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<u></u>0007| <u>    withdrawn.  Those who repaid any portion of the retirement
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<u></u>0008| <u>    benefits received shall be refunded the amounts repaid upon
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<u></u>0009| <u>    reinstatement.  Upon request, refund amounts shall be credited
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<u></u>0010| <u>    against amounts withdrawn and only the balance, if any, shall
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<u></u>0011| <u>    be refunded or due.  Reinstatement shall be effective
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<u></u>0012| <u>    retroactively to the date of withdrawal from membership. 
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<u></u>0013| <u>    Unpaid benefits due shall be paid in a lump sum upon
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<u></u>0014| <u>    reinstatement</u>."
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0015|                              
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