This bill amends Section 10-11-7 of the New Mexico Statutes to allow members of public employee pension systems who have entered a uniformed service of the United States to purchase service credit for their time in service, regardless of the duration. The conditions for purchasing this service credit include the requirement that the member pays the association the determined purchase cost, has the minimum years of service credit needed for normal retirement, and does not exceed a total of five years of purchased service credit. Additionally, a new condition has been added stating that the member must not have received a discharge or separation from uniformed service under other than honorable conditions.

The bill also retains provisions for members who were civilian prisoners of war, those employed by certain organizations that have been taken over by public employers, and those participating in cooperative work study programs to purchase service credit under specific conditions. The overall structure of the service credit purchase process remains intact, including payment requirements and limitations on the amount of service credit that can be purchased. The amendments aim to provide greater flexibility and recognition for service members while ensuring the integrity of the pension system.

Statutes affected:
introduced version: 10-11-7