The bill amends the New Mexico Public Employee Pensions law to provide an equal calculation of credited service for all state police members under the State Public Safety Member Coverage Plan 1. It introduces a twenty percent increase in actual credited service for state police members, adult correctional officers, adult probation and parole officers, juvenile probation and parole officers, and state fire members, with specific conditions based on their membership status as of June 30, 2013. The bill also outlines the age and service requirements for normal retirement for these members, ensuring that the provisions apply uniformly across the specified groups.

Additionally, the bill clarifies that for state police members who joined after July 1, 2013, any credited service or pension earned prior to the bill's effective date will not be adjusted. This ensures that the new provisions do not retroactively affect those who became members after the specified date, maintaining the integrity of their previously accrued benefits. The amendments aim to enhance the retirement benefits for public safety members, promoting equity among different categories of state employees.

Statutes affected:
introduced version: 10-11-27, 10-11-28