SB 123 PUBLIC EMPLOYEES RETURNING TO WORK

Sen Craig Brandt

Actions: [1] SCC/SHPAC/SFC-SCC

Scheduled: Not Scheduled

 Senate Bill 123 (SB 123) This legislative act is related to public employee pensions in the state of New Mexico. The act outlines conditions and provisions for public safety employees who wish to return to work for affiliated public employers after retirement. The legislative act covers various aspects such as retirement eligibility, pension calculation, suspension of pension during subsequent employment, and specific provisions for certain categories of retired members. 

 Senate Bill 123 (SB 123) The purpose of this legislative act is to allow certain public safety employees to return to work for affiliated public employers under certain conditions.  Amendment to Section 10-11-8 NMSA 1978:
The legislation proposes an amendment to Section 10-11-8 of the New Mexico Statutes Annotated (NMSA) 1978.
•	Section 1 outlines the requirements for normal retirement, including filing a written application, termination of employment, selecting an effective retirement date, and meeting age and service credit requirements.
•	The amount of normal retirement pension is determined by the coverage plan applicable to the member.
Return to Employment After Retirement (Subsection C):
•	Retired members may be subsequently employed by an affiliated public employer under specific conditions.
•	Requirements include a twelve-month break in employment, suspension of the pension during subsequent employment, no accrual of service credit, and resumption of the pension upon termination of subsequent employment.
Exceptions (Subsections D and J):
•	Certain exceptions are listed, such as retired members employed by the legislature for legislative session work, temporary employment for election-related work, and retired members elected to serve in an office covered by the Public Employees Retirement Act.
Additional Provisions:
•	Various subsections provide details on contributions, conditions for retired members who return to work before July 1, 2010, and provisions for retired members covered by the Magistrate Retirement Act or Judicial Retirement Act.
Pension Calculation for Members with Service Credit Under Multiple Plans (Subsection I):
•	Describes how the pension of a member with service credit under multiple coverage plans will be determined.
Specific Categories for Subsequent Employment (Subsection J and K):
•	Lists specific retired members (e.g., certified law enforcement officers, municipal detention officers, municipal fire members) who may be subsequently employed under certain conditions.
•	Details conditions such as the continuation of pension payments, non-membership during subsequent employment, no accrual of service credit, required contributions, and limitations on the duration of subsequent employment.
•	The effective date of the provisions is specified as July 1, 2024.