Annual compensation for the Mayor shall be ten thousand dollars
($10,000.00) and for each Councilor ten thousand dollars ($10,000.00),
payable in monthly installments. Benefits may be provided by the Council
as provided for by state law. An elected official who is a retired
member of the New Mexico Public Employee Retirement Association (PERA)
shall be subject to the statutes and rules of PERA, as may be amended
from time to time, governing contributions to the official's
PERA retirement account by the City and by the elected official.