As used in the Deferred Compensation Act: A. 'board' means the public employees retirement board; B. 'local public body' means all political subdivisions of the state, their agencies, instrumentalities and institutions; C. 'local public employee' means any officer or employee to whom a local public body pays a salary for services rendered; D. 'deferred compensation carriers' means any corporation, partnership or persons providing administrative, recordkeeping or investment consulting services to participants in deferred compensation plans pursuant to funding agreements; and E. 'state employee' means any officer or employee to whom the state pays a salary for services rendered. History: Laws 1981, ch. 155, § 2; 1985, ch. 161, § 1; 2017, ch. 20, § 1. ANNOTATIONSThe 2017 amendment, effective June 16, 2017, expanded the definition of 'deferred compensation carriers'; in Subsection A, after 'public', changed 'employees'' to 'employees'; and in Subsection D, after 'partnership or persons', deleted 'who provide investment options' and added 'providing administrative, recordkeeping or investment consulting services'.
New Mexico Legal Code