Section 10-11-54 - Municipal general member coverage plan 2; member contribution rate.

NM Stat § 10-11-54 (2019) (N/A)
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A member under municipal general member coverage plan 2 shall contribute nine and fifteen-hundredths percent of salary starting with the first full pay period in the calendar month in which municipal general member coverage plan 2 becomes applicable to the member, except that a member whose annual salary is greater than twenty thousand dollars ($20,000) shall contribute ten and sixty-five hundredths percent of salary.

History: Laws 1987, ch. 253, § 54; 2013, ch. 225, § 37.

The 2013 amendment, effective July 1, 2013, increased the employee contribution rate for employees earning more than twenty thousand dollars in salary annually; deleted the entire section, which provided for employee contributions at a rate of nine and fifteen one-hundredths percent of salary; and added the current language.

Severability. — Laws 2013, ch. 225, § 93 provided that if any part or application of Laws 2013, ch. 225 is held invalid, the remainder or its application to other situations or persons shall not be affected.