N.M. Stat. § 10-11-55.11

Current through 2024, ch. 69
Section 10-11-55.11 - Municipal general member coverage plan 4; member contribution rate

A member under municipal general member coverage plan 4 shall contribute fifteen and sixty-five hundredths percent of salary starting with the first full pay period in the calendar month in which municipal general member coverage plan 4 becomes applicable to the member, except that a member whose annual salary is greater than twenty-five thousand dollars ($25,000) shall contribute:

A. prior to July 1, 2022, seventeen and fifteen hundredths percent of salary;
B. beginning July 1, 2022 and continuing through June 30, 2023, seventeen and sixty-five hundredths percent of salary;
C. beginning July 1, 2023 and continuing through June 30, 2024, eighteen and fifteen hundredths percent of salary;
D. beginning July 1, 2024 and continuing through June 30, 2025, eighteen and sixty-five hundredths percent of salary; and
E. beginning July 1, 2025 and thereafter, nineteen and fifteen hundredths percent of salary.

NMS § 10-11-55.11

Laws 1998, ch. 106, § 5; 2013, ch. 225, § 45.
Amended by 2020, c. 11,s. 26, eff. 7/1/2020.
Amended by 2013, c. 225,s. 45, eff. 7/1/2013.