Section 10-7A-8 - Deferred compensation plan; local public employee participation. - New Mexico Statutes

10-7A-8. Deferred compensation plan; local public employee participation.

A.     Local public employees shall be eligible to participate in a deferred compensation plan approved by the board upon the filing of the governing authority's written notice applicable to all the local public employees and such other participants permitted by the plan as the local public body may elect. Such filing shall be made at such dates and places and in such manner as the board determines.   

B.     A local public body may terminate its local public employees' and other qualified participants' future participation in a board-approved plan any time not less than two years after the date participation has become effective, upon the governing authority's filing of written notice at such dates and places as the board determines.