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Current as of January 01, 2024 | Updated by Findlaw Staff
A. Any member who initially became a member prior to July 1, 2005 and has not less than eighteen years of service credit may elect to retire at any time between age fifty and age sixty and receive a monthly pension that is one-twelfth of the following formula:
|
Salary received during the |
Number of years between |
|
|
last full year in office |
X .7 + (.005 X |
age fifty and the age |
|
prior to retirement |
at retirement). |
B. The provisions of the Public Employees Retirement Reciprocity Act and the provisions of the Judicial Retirement Act regarding cost-of-living adjustments shall apply to the provisions of this section.
Cite this article: FindLaw.com - New Mexico Statutes Chapter 10. Public Officers and Employees § 10-12B-12. Early retirement - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-10-public-officers-and-employees/nm-st-sect-10-12b-12/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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