2021 New Mexico Statutes
Article 12C - Magistrate Retirement
Section 10-12C-14.1 - Qualified pension recipient; cost-of-living adjustment wait period; declining increase.

A. Pursuant to the Magistrate Retirement Act, a qualified pension recipient is a:
(1) normal retired member who retires:
(a) on or before June 30, 2014 and has been retired for at least two full calendar years from the effective date of the latest retirement prior to July 1 of the year in which the pension is being adjusted;
(b) between July 1, 2014 and June 30, 2015 and has been retired for at least three full calendar years from the effective date of the latest retirement prior to July 1 of the year in which the pension is being adjusted;
(c) between July 1, 2015 and June 30, 2016 and has been retired for at least four full calendar years from the effective date of the latest retirement prior to July 1 of the year in which the pension is being adjusted; or
(d) on or after July 1, 2016 and has been retired for at least seven full calendar years from the effective date of the latest retirement prior to July 1 of the year in which the pension is being adjusted;
(2) normal retired member who is at least sixty-five years of age and has been retired for at least one full calendar year from the effective date of the latest retirement prior to July 1 of the year in which the pension is being adjusted;
(3) disability retired member who has been retired for at least one full calendar year from the effective date of the latest retirement prior to July 1 of the year in which the pension is being adjusted;
(4) survivor beneficiary who has received a survivor pension for at least two full calendar years; or
(5) survivor beneficiary of a deceased retired member who otherwise would have been retired at least two full calendar years from the effective date of the latest retirement prior to July 1 of the year in which the pension is being adjusted.
B. A qualified pension recipient may decline an increase in a pension by giving the association written notice of the decision to decline the increase at least thirty days prior to the date the increase would take effect.
History: 1978 Comp., § 10-12C-14.1, enacted by Laws 2014, ch. 39, § 15 and Laws 2014, ch. 43, § 15.
Duplicate laws. — Laws 2014, ch. 39, § 15 and Laws 2014, ch. 43, § 15, both effective July 1, 2014, enacted identical new sections. The section was set out as enacted by Laws 2014, ch. 43, § 15. See 12-1-8 NMSA 1978.
Severability. — Laws 2014, ch. 43, § 16 provided that if any part or application of Laws 2014, ch. 43 is held invalid, the remainder or its application to other situations or persons shall not be affected.

Structure 2021 New Mexico Statutes