Bill > SB112

This bill increases the employee and employer contribution rates to the Retiree Health Care Fund. Specifically, it increases the employer contribution rate from 2% to 2.33% for participating employees who are not members of an enhanced retirement plan, and from 2.5% to 2.93% for participating employees who are members of an enhanced retirement plan. Similarly, it increases the employee contribution rate from 1% to 1.17% for participating employees who are not members of an enhanced retirement plan, and from 1.25% to 1.47% for participating employees who are members of an enhanced retirement plan. The bill also requires the legislature to review and adjust the distributions and contributions to ensure the actuarial soundness of the benefits provided under the Retiree Health Care Act.

Health and Social Services

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=112&year=22