The bill amends various sections of the New Mexico Public Employees Retirement Act to enhance clarity regarding disability pensions, survivor pensions, and service credit eligibility for state fire members on workers' compensation leave. Key provisions include allowing state fire members to accrue service credit while on approved workers' compensation leave and establishing a disability review committee to oversee disability retirement applications. The bill also clarifies that personal service rendered to an affiliated public employer before August 1, 1947, can be credited to a member if they acquire one year of service credit, and it outlines the process for reinstating forfeited service credit. Additionally, it removes inconsistencies related to survivor pensions and specifies the pension amounts for certain public regulation commission commissioners.

Moreover, the bill modifies the structure and authority of the retirement board, requiring one member to be a municipal member employed by a county, and updates the election and term rules for board members. It introduces new definitions for "state disability retirement pension" and "federal disability benefits," while also restricting public access to certain member and retiree information unless consent is given. The bill allows the association to disclose specific information regarding coverage plans and aggregate pension amounts without prior consent and mandates that retirement board candidates disclose all campaign contributions within ten days after an election. Additionally, it clarifies the conditions under which retirement benefits can be assigned or subjected to legal processes, ensuring they are exempt except as required by federal law.

Statutes affected:
introduced version: 10-11-4, 10-11-4.2, 10-11-6.1, 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