Chapter 10, Article 12C NMSA 1978 may be cited as the “Magistrate Retirement Act”. History: Laws 1992, ch. 118, § 1; 2011, ch. 178, § 10. ANNOTATIONS The 2011 amendment, effective July 1, 2011, changed the statutory reference to the act. Temporary provisions. — Laws 2011, ch. 178, § 15 provided that for the purposes […]
A. On and after July 1, 2014, members, while in office, shall contribute ten and one-half percent of salary to the member contribution fund. B. Upon implementation, the state, acting as employer of members covered pursuant to the provisions of the Magistrate Retirement Act, shall, solely for the purpose of compliance with Section 414(h) of […]
A. The state, through the administrative office of the courts, shall contribute to the fund fifteen percent of salary for each member in office, except that, from July 1, 2014 through June 30, 2015, the state contribution rate shall be eleven percent of salary for each member in office. B. Twenty-five dollars ($25.00) from each […]
A. A magistrate with the applicable minimum number of years of service credit accrued pursuant to the provisions of the Magistrate Retirement Act who becomes unable to carry out the duties of that office due to physical or mental disability shall, upon determination of the disability and relinquishment of office, receive a pension from the […]
For a member whose initial term in office began prior to July 1, 2014: A. unless the member has designated a survivor beneficiary in accordance with Subsection B of this section, a survivor pension shall be paid for life to a member’s or retired member’s surviving spouse; B. the member may designate, in writing in […]
For a member whose initial term in office begins on or after July 1, 2014, except as otherwise provided in Section 10-12C-7 NMSA 1978: A. the member may elect to have pension payments made under any one of the forms of payment provided in Section 10-12C-13.2 NMSA 1978. The election of form of payment and […]
A. Straight life pension is form of payment A. The retired member is paid the pension for life under form of payment A. All payments stop upon the death of the retired member, except as provided by Subsection E of this section. The amount of pension is determined in accordance with the coverage plan applicable […]
For a member whose initial term in office begins on or after July 1, 2014: A. a survivor pension may be paid to certain persons related to or designated by a member who dies before normal or disability retirement if a written application for the pension, in the form prescribed by the association, is filed […]
A qualified pension recipient is eligible for a cost-of-living adjustment payable pursuant to the provisions of the Magistrate Retirement Act as follows: A. beginning July 1, 2014 and continuing through June 30, 2016, there shall not be a cost-of-living adjustment applied to a pension payable pursuant to the Magistrate Retirement Act; and B. beginning on […]
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 […]
If the provisions of the Retiree Health Care Act [10-7C-1 to 10-7C-16 NMSA 1978] do not apply to a retired member, that retired member may continue to be insured under the provisions of any state group insurance plan in effect at the time of retirement or under the terms of any separate subsequent state group […]
A. If a member retires and is subsequently employed by any employer covered by any state system or the educational retirement system, the retired member’s pension shall be suspended effective the first day of the month following the month in which the subsequent employment begins. The suspended pension of a previously retired member shall resume […]
A. If payment of a pension or other retirement benefit causes a decrease in the amount of monetary payments or other needs-based benefits due to a payee from any other governmental agency, the pension or other retirement benefit shall be reduced for the period during which the pension or other retirement benefit prevents payment of […]
A. If an error or omission results in an overpayment to a member or beneficiary of a member, the association shall correct the error or omission and adjust all future payments accordingly. The association shall recover all overpayments made for a period of up to one year prior to the date the error or omission […]
As used in the Magistrate Retirement Act: A. “association” means the public employees retirement association provided for in the Public Employees Retirement Act [Chapter 10, Article 11 NMSA 1978]; B. “board” means the retirement board provided for in the Public Employees Retirement Act; C. “dependent child” means a natural or adopted child who is physically […]
A. There is established in the state treasury the “magistrate retirement fund”. The fund is comprised of money received from docket fees of magistrate courts, employer and member contributions and any investment earnings on fees and contributions. The board is the trustee of the fund and shall administer and invest the fund. Investment of the […]
Every magistrate while in office shall become a member and shall be subject to the provisions of the Magistrate Retirement Act; provided, however, that a magistrate who, prior to July 1, 2014, applied for and received an exemption from membership shall not become a member until such exemption ends. A magistrate who is retired under […]
A. Personal service rendered by a member shall be credited to the member’s service credit account in accordance with board rules and regulations. Service shall be credited to the nearest month. In no case shall any member be credited with a year of service for less than twelve months of service in any calendar year […]
A. If a member leaves office, the member may, with the written consent of the member’s spouse, if any, withdraw the member’s accumulated member contributions, upon making written request in a form prescribed by the association. Upon written request of the member in the form prescribed by the association, a refund of member contributions may […]
A. Except as provided in Subsections B and C of this section, none of the money, pensions or other benefits provided pursuant to the provisions of the Magistrate Retirement Act shall be assignable either in law or in equity or be subject to execution, levy, attachment, garnishment or other legal process. B. A court of […]
