Section 10-11-42 - State legislator member coverage plan 1; member contribution rate. - New-mexico Statutes

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Statutes > New-mexico > Chapter-10 > Article-11 > Section-10-11-42

10-11-42. State legislator member coverage plan 1; member contribution rate.

A. Prior to January 1, 2004, a member under state legislator member coverage plan 1 shall contribute one hundred dollars ($100) for each year of credited service earned after December 31, 1959.

B. To be eligible for the pension amount in Paragraph (2) of Subsection C of Section 10-11-41 NMSA 1978, a member under state legislator member coverage plan 1 must contribute one hundred dollars ($100) for each year of credited service earned after December 31, 1959 and must make that required contribution no later than December 31, 2003.

State Codes and Statutes

Statutes > New-mexico > Chapter-10 > Article-11 > Section-10-11-42

10-11-42. State legislator member coverage plan 1; member contribution rate.

A. Prior to January 1, 2004, a member under state legislator member coverage plan 1 shall contribute one hundred dollars ($100) for each year of credited service earned after December 31, 1959.

B. To be eligible for the pension amount in Paragraph (2) of Subsection C of Section 10-11-41 NMSA 1978, a member under state legislator member coverage plan 1 must contribute one hundred dollars ($100) for each year of credited service earned after December 31, 1959 and must make that required contribution no later than December 31, 2003.

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State Codes and Statutes

Statutes > New-mexico > Chapter-10 > Article-11 > Section-10-11-42

10-11-42. State legislator member coverage plan 1; member contribution rate.

A. Prior to January 1, 2004, a member under state legislator member coverage plan 1 shall contribute one hundred dollars ($100) for each year of credited service earned after December 31, 1959.

B. To be eligible for the pension amount in Paragraph (2) of Subsection C of Section 10-11-41 NMSA 1978, a member under state legislator member coverage plan 1 must contribute one hundred dollars ($100) for each year of credited service earned after December 31, 1959 and must make that required contribution no later than December 31, 2003.