N.M. Stat. § 10-11-26.5

Current through 2024, ch. 69
Section 10-11-26.5 - State general member coverage plan 3; member contribution rate

A member under state general member coverage plan 3 shall contribute seven and forty-two hundredths percent of salary starting with the first full pay period that ends within the calendar month in which state general member coverage plan 3 becomes applicable to the member, except that a member whose annual salary is greater than twenty-five thousand dollars ($25,000) shall contribute :

A. beginning July 1, 2020 and continuing through June 30, 2021, nine and forty-two hundredths percent of salary;
B. beginning July 1, 2021 and continuing through June 30, 2022, nine and ninety-two hundredths percent of salary;
C. beginning July 1, 2022 and continuing through June 30, 2023, ten and forty-two hundredths percent of salary; and
D. beginning July 1, 2023 and thereafter, ten and ninety-two hundredths percent of salary.

NMS § 10-11-26.5

Laws 1994, ch. 128, § 6; 2009, ch. 127, § 1; 2011, ch. 178, § 1; 2013, ch. 225, § 12.
Amended by 2020, c. 11,s. 5, eff. 7/1/2020.
Amended by 2013, c. 225,s. 12, eff. 7/1/2013.
Amended by 2011, c. 178,s. 1, eff. 7/1/2011.