Section 10-11-40 - State legislator member coverage plan 1; age and service requirements for normal retirement.

NM Stat § 10-11-40 (2019) (N/A)

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Under state legislator member coverage plan 1, the age and service requirements for normal retirement are:

A. age sixty-five years or older and five or more years of credited service;

B. age sixty-four years or older and eight or more years of credited service;

C. age sixty-three years or older and eleven or more years of credited service;

D. age sixty years or older and twelve or more years of credited service; or

E. any age and fourteen or more years of credited service.

History: Laws 1987, ch. 253, § 40.

Repeals and reenactments. — Laws 1987, Chapter 253 repealed former 10-11-40 NMSA 1978, as enacted by Laws 1963, ch. 102, § 2, relating to transfer of funds and obligations created pursuant to 1947 law, and enacted a new section, effective July 1, 1987.

Legislative retirement plan does not violate constitution. — The retirement benefits for which legislators may be eligible under the legislative retirement plan do not constitute legislative compensation; accordingly, the plan does not violate N.M. Const. art IV, § 10. State ex rel. Udall v. Public Emps. Ret. Bd., 1995-NMSC-078, 120 N.M. 786, 907 P.2d 190, rev'g 1994-NMCA-094, 118 N.M. 507, 882 P.2d 548.

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