Except as provided in Sections 10-11-136 and 10-11-136.1 NMSA 1978, none of the money, pensions or other benefits mentioned in the Public Employees Retirement Act [10-11-1 NMSA 1978] shall be assignable either in law or in equity or be subject to execution, levy, attachment, garnishment or other legal process.
HISTORY:
Laws 1987, ch. 253, § 135; 1989, ch. 125, § 1; 1990, ch. 49, § 14.
OPINIONS OF ATTORNEY GENERAL
Generally.
Repeal of the state income tax exemptions for teacher pensions and public employee pensions would not remedy constitutional defects of the proposed retiree health care act, under the theory that such exemptions would be “traded” for retiree health care, because those tax exemptions are not property rights, irrepealable contractual entitlements, or pension benefits. 1990 N.M. Op. Att'y Gen. No. 90-03.