The hospital governing board of a county hospital and regents of a state educational institution operating a county hospital under a contract approved by the state board of finance may establish retirement plans and programs for employees of a county hospital under their control. In establishing a retirement plan or program for county hospital employees, the governing board of the hospital may contract with private insurance companies. Any retirement benefits payable or paid to a county hospital employee resulting from a retirement plan or program authorized under this section are employee benefits and part of consideration for services rendered and are not donations to the employee.
History: 1953 Comp., § 15-48-15, enacted by Laws 1973, ch. 343, § 1; 1978 Comp., § 4-48-16, recompiled as § 4-48B-17 by Laws 1981, ch. 83, § 17; 1982, ch. 11, § 3.
Cross references. — For powers of hospital governing boards generally, see 4-48B-10 NMSA 1978.
For retirement of public employees generally, see 10-11-1 NMSA 1978 et seq.
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