New Mexico Administrative Code
Title 2 - PUBLIC FINANCE
Chapter 81 - RETIREE HEALTH CARE FUNDS
Part 11 - ESTABLISHING SUBSIDY LEVELS ON THE BASIS OF YEARS OF CREDITABLE SERVICE
Section 2.81.11.8 - NMRHCA CONTRIBUTION OF A PERCENTAGE OF A SUBSIDY TO MONTHLY PREMIUMS OF ELIGIBLE RETIREES

Universal Citation: 2 NM Admin Code 2.81.11.8

Current through Register Vol. 35, No. 18, September 24, 2024

A. Except as otherwise provided in 2.81.11.9 NMAC, for eligible retirees who are members of an enhanced retirement plan and become eligible for participation on or after July 1, 2001, or are not members of an enhanced retirement plan and become eligible for participation on or after July 1, 2001 but before July 31, 2021, and the eligible dependents of such retirees, the NMRHCA will contribute the following percentages of the subsidy to the monthly premiums according to the corresponding numbers of years of credited service with an NMRHCA-participating employer:

(1) Example: If the subsidy for a particular plan is one half the premium cost, then for a retiree with 20 years of credited service the NMRHCA would provide one hundred percent of the subsidy; half the cost.

(2) Example: For the same subsidy of one half the premium cost, the percent of subsidy for a retiree with eight years of credited service would be twenty-five percent of the fifty percent subsidy: twelve and one-half percent of the cost.

Years of credited service

Percentage of subsidy

5

6.25

6

12.50

7

18.75

8

25.00

9

31.25

10

37.50

11

43.75

12

50.00

13

56.25

14

62.50

15

68.75

16

75.00

17

81.25

18

87.50

19

93.75

20

100.00

B. Subject to 2.81.11.10 NMAC and except as otherwise provided in 2.81.11.9 NMAC, for eligible retirees who are not members of an enhanced retirement plan and become eligible for participation on or after July 31, 2021, and the eligible dependents of such retirees, the NMRHCA will contribute the following percentages of the subsidy to the monthly premiums according to the corresponding numbers of years of credited service with an NMRHCA-participating employer:

(1) Example: If the subsidy for a particular plan is one half the premium cost, then for a retiree with 25 years of credited service the NMRHCA would provide one hundred percent of the subsidy; half the cost.

(2) Example: For the same subsidy of one half the premium cost, the percent of subsidy for a retiree with twelve years of credited service would be thirty-eight and one-tenth percent of the fifty percent subsidy: nineteen and five-hundredths percent of the cost.

Years of credited service

Percentage of subsidy

5

4.76

6

9.52

7

14.29

8

19.05

9

23.81

10

28.57

11

33.33

12

38.10

13

42.86

14

47.62

15

52.38

16

57.14

17

61.90

18

66.67

19

71.43

20

76.19

21

80.95

22

85.71

23

90.48

24

95.24

25

100.00

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