The bill seeks to amend and clarify various provisions related to public employee pensions in New Mexico, with a particular focus on disability and survivor pensions. It establishes a "disability review committee" to oversee disability retirement applications, which will include retirement board members and at least one licensed physician. The bill allows for personal service rendered to an affiliated public employer before August 1, 1947, to be credited to a member if they acquire one year of service credit. Additionally, it exempts the collection of overpayments from the Procurement Code, enabling the Public Employees Retirement Association to recover overpayments made due to errors or fraudulent information.

Moreover, the bill modifies survivor pension provisions, ensuring that if a member dies due to employment-related causes, a survivor pension will be payable to the designated beneficiary or eligible surviving spouse. It introduces new provisions for distributing survivor pensions to eligible surviving children and clarifies the retirement board's authority and membership structure. The bill also updates rules regarding the confidentiality of member and retiree information, emphasizing the importance of consent for the release of personal information. Lastly, it establishes compliance with the Gift Act for retirement board members and employees, sets limits on contributions to candidates for board membership, and mandates that all magistrates become members of the Magistrate Retirement Act unless an exemption is filed.

Statutes affected:
introduced version: 10-11-4, 10-11-4.2, 10-11-10.1, 10-11-14.5, 10-11-26.3, 10-11-130, 10-11-130.1, 10-11-135, 10-11A-7