Bill > HB150

This bill amends the Retiree Health Care Act to adjust the employer and employee contribution rates for the Retiree Health Care Fund. For 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, while the employee contribution rate is increased from 1% to 1.17%. For 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 requires the legislature to review and adjust the fund distributions and contribution rates to ensure the actuarial soundness of the benefits provided under the Retiree Health Care Act.

Military Affairs and Security

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=150&year=23