A. For a magistrate who was a member on June 30, 2014, the age and service credit requirements for retirement provided for in the Magistrate Retirement Act are:
(1) age sixty-five years or older and five or more years of service credit;
(2) age sixty years or older and fifteen or more years of service credit; or
(3) any age and twenty-four or more years of service credit.
B. For a magistrate who initially became a member on or after July 1, 2014, the age and service requirements for normal retirement provided for in the Magistrate Retirement Act are:
(1) age sixty-five years or older and eight or more years of service credit;
(2) age sixty years or older and fifteen or more years of service credit; or
(3) any age and twenty-four or more years of service credit.
C. Except for a member who is retired under any state system or the educational retirement system, if a member leaves office for any reason, other than removal pursuant to Article 6, Section 32 of the constitution of New Mexico before meeting the age and service credit requirements for retirement pursuant to the provisions of this section and if that member leaves the member contributions on deposit in the fund, that member may apply for retirement when that member meets the age and service credit requirements for retirement pursuant to the provisions of the Magistrate Retirement Act or provisions of the Public Employees Retirement Reciprocity Act [Chapter 10, Article 13A NMSA 1978].
D. No member shall be eligible to receive a pension pursuant to the provisions of the Magistrate Retirement Act while still in office.
History: Laws 1992, ch. 118, § 8; 2014, ch. 39, § 5; 2014, ch. 43, § 5.
ANNOTATIONSThe 2014 amendment, effective July 1, 2014, changed the age and service requirements for normal retirement; in Subsection A, in the introductory sentence, added "For a magistrate who was a member on June 30, 2014"; in Subsection A, Paragraph (1), after "age", deleted "sixty-four" and added "sixty-five"; added Subsection B; in Subsection C, at the beginning of the sentence, added "Except for a member who is retired under any state system or the educational retirement system", and at the end of the sentence, deleted "if enacted by the second session of the fortieth legislature of the state of New Mexico".
Laws 2014, ch. 39, § 5 and Laws 2014, ch. 43, § 5, both effective July 1, 2014, enacted identical amendments to this section. The section was set out as amended by Laws 2014, ch. 43, § 5. See 12-1-8 NMSA 1978.
Severability. — Laws 2014, ch. 43, § 16 provided that if any part or application of Laws 2014, ch. 43 is held invalid, the remainder or its application to other situations or persons shall not be affected.