Section 51-1-14 - Financing benefits paid to employees of governmental entitiesA. State agencies shall make payments in lieu of contributions in accordance with the provisions of Sections 51-1-15 and 51-1-45 NMSA 1978.B. Local public bodies shall finance benefits paid to an individual based on services performed in their employ by:(1) participating in the local public body compensation reserve fund;(2) paying contributions to the department; or(3) making an election to become liable for payments in lieu of contributions in accordance with the provisions of Subsection B or E of Section 51-1-13 NMSA 1978.1953 Comp., § 59-9-7.5, enacted by Laws 1977, ch. 227, § 1; 1979, ch. 280, § 21.