summary
Introduced
01/19/2022
01/19/2022
In Committee
Crossed Over
Passed
Dead
02/17/2022
02/17/2022
Introduced Session
2022 Regular Session
Bill Summary
AN ACT RELATING TO PUBLIC EMPLOYEE RETIREMENT; REDUCING THE MEMBERSHIP AND CHANGING THE COMPOSITION OF THE PUBLIC EMPLOYEES RETIREMENT BOARD; PROVIDING REQUIREMENTS FOR CERTAIN RETIREMENT BOARD MEMBERS.
AI Summary
This bill reduces the membership of the Public Employees Retirement Board (PERA Board) from 11 to 7 members and changes the composition of the board. It removes the Secretary of State and requires that one of the three active members elected from the state coverage plan and one of the three active members elected from the municipal coverage plan hold an advanced degree in finance, economics, public administration, or law. The bill also allows the State Treasurer to designate a representative to serve on the board. The bill includes temporary provisions allowing current board members to serve out their terms and requiring candidates for the open state and municipal board positions to hold an advanced degree.
Sponsors (1)
Last Action
Action Postponed Indefinitely (on 01/19/2022)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=102&year=22 |
| BillText | https://www.nmlegis.gov/Sessions/22%20Regular/bills/senate/SB0102.pdf |
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