2017 New Mexico Statutes
Chapter 22 - Public Schools
Article 11 - Educational Retirement
Section 22-11-23 - Retirement eligibility; initial membership prior to July 1, 2010.
22-11-23. Retirement eligibility; initial membership prior to July 1, 2010.
A. A member who was a member on June 30, 2010, or was a member at any time prior to that date and had not, on that date, been refunded all member contributions pursuant to Subsection A of Section 22-11-15 NMSA 1978, shall be eligible for retirement benefits when:
(1) the member is any age and has twenty-five or more years of earned and allowed service credit;
(2) the member is at least sixty-five years of age and has five or more years of earned service credit; or
(3) the sum of the member's age and years of earned service credit equals at least seventy-five; provided that a member who retires pursuant to this paragraph shall be subject to the benefit reductions provided in Subsection G of Section 22-11-30 NMSA 1978.
B. A member shall be subject to the provisions of Subsection A of this section as they existed at the beginning of the member's last cumulated four quarters of earned service credit, regardless of later amendment.
History: 1953 Comp., 77-9-22, enacted by Laws 1967, ch. 16, 146; 1971, ch. 12, 2; 1974, ch. 5, 2; reenacted by 1981, ch. 293, 2; 1984, ch. 19, 4; 1993, ch. 69, 7; 2009, ch. 286, 1; 2009, ch. 288, 14; 2013, ch. 61, 2.
