§ 51-1-14. Financing benefits paid to employees of governmental entities

A. State agencies shall make payments in lieu of contributions in accordance with the provisions of Sections 51-1-15 and 51-1-45 NMSA 1978 . B. Local public bodies shall finance benefits paid to an individual based on services performed in their employ by: (1) participating in the local public body compensation reserve fund; (2) paying contributions to the department; or (3) making an election to become liable for payments in lieu of contributions in accordance with the provisions of Subsection B or E of Section 51-1-13 NMSA 1978 .