This bill amends various sections of the New Mexico Statutes related to public safety, municipal police, and municipal fire plans, specifically focusing on age and service credit requirements for normal retirement. Key changes include the introduction of a twenty percent increase in credited service for state public safety members, including state police, correctional officers, and fire members, which will apply to service earned under the state public safety member coverage plan 1. Additionally, the bill modifies the age and service requirements for normal retirement under municipal police and fire member coverage plans, allowing members who were not retired or members on June 30, 2013, to qualify for retirement at age sixty with five or more years of service credit or at any age with twenty or more years of service credit.

The bill also specifies that the new provisions will only apply to credited service performed after its effective date, ensuring that any service or pension earned prior to this date will not be recalculated or adjusted. The amendments aim to enhance retirement benefits for public safety personnel, reflecting a commitment to support those who serve in these critical roles.

Statutes affected:
introduced version: 10-11-27, 10-11-57, 10-11-63, 10-11-69, 10-11-75, 10-11-81, 10-11-87, 10-11-93, 10-11-99, 10-11-105, 10-11-111