summary
Introduced
01/19/2023
01/19/2023
In Committee
03/11/2023
03/11/2023
Crossed Over
02/15/2023
02/15/2023
Passed
03/16/2023
03/16/2023
Dead
Signed/Enacted/Adopted
03/30/2023
03/30/2023
Introduced Session
2023 Regular Session
Bill Summary
AN ACT RELATING TO PUBLIC PENSIONS; INCREASING THE MAXIMUM AMOUNT OF PENSION THAT A MEMBER IS PERMITTED TO EARN PURSUANT TO THE PUBLIC EMPLOYEES RETIREMENT ACT.
AI Summary
This bill increases the maximum amount of pension that a member is permitted to earn pursuant to the Public Employees Retirement Act. Specifically, it amends various sections of the Act to raise the maximum pension amount from 100% to 100% of the final average salary for certain public employee coverage plans, including state general members, state police members, correctional officers, probation and parole officers, juvenile correctional officers, municipal general members, municipal police members, and municipal fire members. The provisions of the bill apply only to credited service performed after the effective date of the act.
Committee Categories
Health and Social Services, Military Affairs and Security
Sponsors (2)
Last Action
Signed by Governor - Chapter 53 - Mar. 30 (on 03/30/2023)
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=H&legtype=B&legno=106&year=23 |
| BillText | https://www.nmlegis.gov/Sessions/23%20Regular/final/HB0106.pdf |
| BillText | https://www.nmlegis.gov/Sessions/23%20Regular/bills/house/HB0106.pdf |
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