Municipal general member coverage plan 3; member contribution rate
NMSA 1978, § 10-11-55.5
in effect10-11-55.5. Municipal general member coverage plan 3; member contribution rate
A member under municipal general member coverage plan 3 shall contribute thirteen and fifteen-hundredths percent of salary starting with the first full pay period in the calendar month in which municipal general member coverage plan 3 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, fourteen and sixty-five hundredths percent of salary;
B. beginning July 1, 2022 and continuing through June 30, 2023, fifteen and fifteen-hundredths percent of salary;
C. beginning July 1, 2023 and continuing through June 30, 2024, fifteen and sixty-five hundredths percent of salary;
D. beginning July 1, 2024 and continuing through June 30, 2025, sixteen and fifteen-hundredths percent of salary; and
E. beginning July 1, 2025 and thereafter, sixteen and sixty-five hundredths percent of salary.
1978 Comp., § 10-11-55.5, enacted by Laws 1993, ch. 58, § 5; 2013, ch. 225, § 41; 2020, ch. 11, § 23.
Source: New Mexico Compilation Commission (nmonesource.com)URL: https://nmonesource.com/nmos/nmsa-unanno/en/item/18510/index.do#!b/10-11-55.5Fetched: 10/20/2026