2018 New Mexico Statutes
Chapter 10 - Public Officers and Employees
Article 12B - Judicial Retirement
Section 10-12B-15.1 - Qualified pension recipient; cost-of-living-adjustment wait period; declining increase.
A. Pursuant to the Judicial 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., § 10-12B-15.1, enacted by Laws 2014, ch. 35, § 15.
Effective dates. — Laws 2014, ch. 35, § 17 provided that Laws 2014, ch. 35, § 15 was effective July 1, 2014.
Severability. — Laws 2014, ch. 35, § 16 provided that if any part or application of Laws 2014, ch. 35 is held invalid, the remainder or its application to other situations or persons shall not be affected.
