Municipal general member coverage plan 2; member

NMSA 1978, § 10-11-54 — under Article 11.

NMSA 1978, § 10-11-54

contribution rate. A member under municipal general member coverage plan 2 shall contribute nine and fifteen-hundredths percent of salary starting with the first full pay period in the calendar month in which municipal general member coverage plan 2 becomes applicable to the member, except that a member whose annual salary is greater than twenty-five thousand dollars ($25,000) shall contribute: A. prior to July 1, 2022, ten and sixty-five hundredths percent of salary; B. beginning July 1, 2022 and continuing through June 30, 2023, eleven and fifteen- hundredths percent of salary; C. beginning July 1, 2023 and continuing through June 30, 2024, eleven and sixty- five hundredths percent of salary; D. beginning July 1, 2024 and continuing through June 30, 2025, twelve and fifteen- hundredths percent of salary; and E. beginning July 1, 2025 and thereafter, twelve and sixty-five hundredths percent of salary. History: Laws 1987, ch. 253, § 54; 2013, ch. 225, § 37; 2020, ch. 11, § 20.