HOUSE BILL 275

51st legislature - STATE OF NEW MEXICO - first session, 2013

INTRODUCED BY

Dennis J. Roch

AN ACT

RELATING TO PENSIONS; AMENDING THE VOLUNTEER FIREFIGHTERS RETIREMENT ACT TO INCREASE THE RETIREMENT BENEFITS FOR ELIGIBLE PLAN RETIREES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     SECTION 1. Section 10-11A-5 NMSA 1978 (being Laws 1983, Chapter 263, Section 5, as amended) is amended to read:

     "10-11A-5. RETIREMENT BENEFITS--ELIGIBILITY.--

          A. Any member who attains the age of fifty-five years and has twenty-five years or more of service credit shall be eligible to receive a retirement annuity of [two hundred dollars ($200)] two hundred fifty dollars ($250), payable monthly from the fund during the remainder of the member's life.

          B. Any member who attains the age of fifty-five years and has at least ten but less than twenty-five years or more of service credit shall be eligible to receive a retirement annuity of [one hundred dollars ($100)] one hundred twenty-five dollars ($125), payable monthly from the fund during the remainder of the member's life.

          C. Any member who ceases to be a volunteer nonsalaried firefighter after completing at least ten but less than twenty-five years of service credit is eligible to receive upon attaining the age of fifty-five years a retirement annuity of [one hundred dollars ($100)] one hundred twenty-five dollars ($125), payable monthly from the fund during the remainder of the member's life.

          D. Any member who ceases to be a volunteer nonsalaried firefighter after completing twenty-five years of service credit is eligible to receive upon attaining the age of fifty-five years a retirement annuity of [two hundred dollars ($200)] two hundred fifty dollars ($250), payable monthly from the fund during the remainder of the member's life.

          E. Any member who qualifies for and receives a retirement annuity pursuant to this section may continue as an active member on the rolls of a fire department. However, such member shall not accrue additional service credit for the purpose of increasing the amount of the member's retirement annuity."

     SECTION 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2013.

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