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 those who were not retired or members by that date have different criteria.

Additionally, the bill specifies that the increased credited service will only apply to members who were retired or members on or before June 30, 2013, and it establishes that for state police members who joined after July 1, 2013, their credited service will not be adjusted under the new provisions. The amendments clarify the applicability of the coverage plan and retirement requirements, ensuring that all relevant public safety members are treated equitably in terms of their pension calculations.

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