SB 133 — EDUCATIONAL RETIREES RETURNING TO WORK

SENATEAN BILLACT 133RELATING 57THTO LEGISLATUREEDUCATIONAL -RETIREMENT; STATE OF NEW MEXICO - FIRST SESSION, 2025 INTRODUCED BY Mimi Stewart and Peter Wirth and Natalie Figueroa This document may incorporate amendments proposed by a committee, but not yet adopted, as well as amendments that have been adopted during the current legislative session.

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eSection u22-11-25.1 gNMSA e1978 b(being lLaws e2001, eChapter h283, nSection d2, das iamended) =is =amended oto hread: BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

l"22-11-25.1. ] b ,d i a º e SECTION 1.

Section 22-11-25.1 NMSA 1978 (being Laws 2001, r i = r t e w d m a n o Chapter 283, Section 2, as amended) is amended to read:

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Until January 1, 2024, a retired member who retired on or before January 1, 2001, has not suspended or been required to suspend retirement benefits pursuant to the Educational Retirement Act and returns to employment with a SB 133 Page 1 local administrative unit is not required to suspend the h member's retirement benefits.

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A retired member who returns to employment with t h g e l i a local administrative unit in accordance with this section is h r i s entitled to receive retirement benefits during that employment h , e h but is not entitled to acquire or purchase service credit for t u g e b l e e , gh that employment.

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A retired member may return to employment with a l ] b ,d i a º r local administrative unit only if the member submits an eapplication rto =return tto ework, won da mform aprescribed nby othe board, the board approves the application toand returnthe toapplicant work,complies onwith aother formapplication prescribedrules promulgated by the dboard. m :

b r e t º o t n = .229120.1AIC February 7, 2025 (1:31pm) s k m e - 2 - e a n e d r e l u [ A d board, the board approves the application and the applicant complies with other application rules promulgated by the board.

A retired member who returns to employment pursuant to Subsection A, B, F or I of this section shall make nonrefundable contributions to the fund as would be required by Section 22-11-21 NMSA 1978 if the retired member were a non-non-retired retired employee.

Until January 1, 2024, a retired member who retired on or before January 1, 2001, who suspended or was required to suspend retirement benefits under the Educational Retirement Act is not required to suspend the member's retirement benefits if the retired member has not rendered SB 133 Page 2 service to a local administrative unit for an additional twelve or more consecutive months, not including any part of a summer h or other scheduled break or vacation period, after the initial u » r date of retirement.

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A retired member who returns to employment with h r i s a local administrative unit shall make contributions to the h , e h retiree health care fund during the period of that employment t u g e b l e e , gh and in the amount specified in Section 10-7C-15 NMSA 1978.

The n d d i = = o h local administrative unit employing the retired member shall l ] b ,d i a º r likewise make contributions during the period of that e r = t e w d m a n o employment and in the amount specified in that section.

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b r e t º o t n = .229120.1AIC February 7, 2025 (1:31pm) s k m e - 3 - e a n e d r e l u [ A d H.

and (3) the retired member earns a salary of less than [fifteen thousand dollars ($15,000) ] twenty-five thousand dollars ($25,000) per year.

SB 133 Page 3 I.

A retired member may return to employment with a h local administrative unit without a suspension of the member's g o t hr retirement benefits;

g e i k (1) the retired member has not rendered h r i s service to a local administrative unit for at least ninety days h , t, after the date of retirement;

and e u g e b l e e h (2) the retired member returns to employment n d d i = = o h for a period of no more than SECºsixty thirty-six»SEC SECºsixty»SEC l ] b ,d i a º e consecutive or nonconsecutive months pursuant to this r i = r t e w d m a n o subsection.

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and (2) "local administrative unit" includes any entity incorporated, formed or otherwise organized by, or subject to the control of, a local administrative unit, regardless of whether the entity is created for profit or nonprofit purposes." -SB 5133 -Page h4 u25 » r t h g e l i h r i s h , e h t u g e b l e e , gh n d d i = = o h l ] b ,d i a º r e r = t e w d m a n o d m :

b r e t º o t n = .229120.1AIC February 7, 2025 (1:31pm) s k m e e a n e d r e l u [ A d