Bill > HB74

This bill increases the employee and employer contribution rates to the Retiree Health Care Fund in New Mexico. For participating employees who are not members of an enhanced retirement plan, the employer contribution rate is increased from 2% to 2.33% of the employee's salary, and the employee contribution rate is increased from 1% to 1.17%. For participating employees who are members of an enhanced retirement plan, the employer contribution rate is increased from 2.5% to 2.93% of the employee's salary, and the employee contribution rate is increased from 1.25% to 1.47%. The bill also adds probation and parole officers to the definition of "members of an enhanced retirement plan." The effective date of the bill is July 1, 2022.

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=74&year=22