TITLE 2 PUBLIC
FINANCE
CHAPTER 80 PUBLIC
EMPLOYEES RETIREMENT
PART 2200 MUNICIPAL
FIRE MEMBER COVERAGE PLANS
2.80.2200.1 ISSUING
AGENCY: Public Employees Retirement Association, P.
O. Box 2123, Santa Fe, New Mexico 87504-2123
[4-1-96; 2.80.2200.1 NMAC -
Rn, 2 NMAC 80.2200.1, 12-28-01]
2.80.2200.2 SCOPE: This rule
affects the affiliated public employers and employees under the municipal fire
member coverage plans of the Public Employees Retirement Act during the fiscal
year 1997.
[4-1-96; 2.80.2200.2 NMAC -
Rn, 2 NMAC 80.2200.2, 12-28-01]
2.80.2200.3 STATUTORY
AUTHORITY: This rule is authorized by Section 2, Chapter
8 of the New Mexico Laws of 1996 and Section 10-11-130, NMSA 1978.
[4-1-96; 2.80.2200.3 NMAC -
Rn, 2 NMAC 80.2200.3, 12-28-01]
2.80.2200.4 DURATION: Permanent.
[4-1-96; 2.80.2200.4 NMAC -
Rn, 2 NMAC 80.2200.4, 12-28-01]
2.80.2200.5 EFFECTIVE
DATE:
April 1, 1996. This rule was
originally adopted as an emergency rule.
See notice of adoption of emergency rule and notice of PERA rulemaking,
March 28, 1996, published in the New Mexico register on April 15, 1996. The rule was adopted by the PERA board as a
permanent rule on May 30, 1996. The
effective date of the permanent rule relates back to the effective date of the
emergency rule.
[4-1-96; 6-15-96; 2.80.2200.5
NMAC - Rn, 2 NMAC 80.2200.5, 12-28-01]
2.80.2200.6 OBJECTIVE: On March 4, 1996, legislation was signed by Governor
Gary Johnson which appropriated $300,000 from the general fund to the employers
accumulation fund for the fiscal year 1997 for the purpose of funding municipal
fire member coverage plans. The
legislation called for the following:
“The amount of the appropriation shall be matched by employers or
employees, or both, of participants in the municipal fire member plans by a
contribution of an amount equal to one percent of the municipal fire member
plan’s monthly payroll for fiscal year 1997.” House Appropriations and Finance
Committee Substitute for House Bills 667 and 693, Section 2. The objective of this rule is to establish
administrative procedures to implement this “match” in time for fiscal year
1997. Because of the limited period of time between the end of the 1996
legislative session and the effective date of the legislation, this rule was
originally adopted as an emergency rule to give municipalities adequate time to
take official action with respect to the allocation of the match between the
employers and employees. Immediate
adoption of this rule was also necessary for the preservation of the soundness
of the fund and the general welfare of the association.
[4-1-96; 6-15-96; 2.80.2200.6
NMAC - Rn, 2 NMAC 80.2200.6, 12-28-01]
2.80.2200.7 DEFINITIONS: Definitions of
terms used in this rule are found in 2.80.100.7 NMAC Definitions, and Section
10-11-2, NMSA 1978.
[4-1-96; 2.80.2200.7 NMAC -
Rn, 2 NMAC 80.2200.7, 12-28-01]
2.80.2200.8 REPORTING
REQUIREMENT: On or before July 1, 1996, each affiliated
public employer with a municipal fire member coverage plan shall file with the
association a certified copy of a duly enacted resolution or ordinance of its
governing body. The resolution or
ordinance shall specify what percentage of the mandatory contribution equal to
1% of the municipal fire member plan monthly payroll for fiscal year 1997 will
be contributed by the employer, if any, and what percentage by the employee, if
any. If no such resolution or ordinance
is filed with PERA by July 1, 1996, the entire 1% contribution shall be
allocated to the employer and deposited into the employers accumulation fund.
[4-1-96; 2.80.2200.8 NMAC -
Rn, 2 NMAC 80.2200.8, 12-28-01]
HISTORY of 2.80.2200 NMAC: [RESERVED]