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, adult correctional officers, and state 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 the effective date of the act, ensuring that any service or pension earned prior to this date will not be recalculated or adjusted. This legislative change aims to enhance retirement benefits for public safety personnel while establishing clear eligibility criteria for retirement based on service duration and age.

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