Section 10-11-26.6 - State general member coverage plan 3; state contribution rate. - New Mexico Statutes

10-11-26.6. State general member coverage plan 3; state contribution rate.

The state shall contribute sixteen and fifty-nine hundredths percent of the salary of each member covered by state general member coverage plan 3 starting with the first pay period that ends within the calendar month in which state general member coverage plan 3 becomes applicable to the member, except that, from July 1, 2009 through June 30, 2011, for members whose annual salary is greater than twenty thousand dollars ($20,000), the state contribution rate shall be fifteen and nine hundredths percent of the salary of each member.