0001|                           SENATE BILL 205
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0002|     43rd legislature - STATE OF NEW MEXICO - first session, 1997
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0003|                            INTRODUCED BY
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0004|                          FERNANDO R. MACIAS
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0005|     
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0006|                                   
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0007|     
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0008|                                   
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0009|     
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0010|                                AN ACT
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0011|     RELATING TO MAGISTRATE RETIREMENT; INCREASING THE AMOUNT OF
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0012|     PENSION FOR MAGISTRATES; AMENDING A SECTION OF THE MAGISTRATE
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0013|     RETIREMENT ACT; MAKING AN APPROPRIATION.
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0014|     
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0015|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0016|          Section 1.  Section 10-12C-9 NMSA 1978 (being Laws 1992,
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0017|     Chapter 118, Section 9) is amended to read:
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0018|          "10-12C-9.  AMOUNT OF PENSION.--The amount of pension is
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0019|     equal to one-twelfth of:
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0020|      <s>[seventy-five]</s> <u>eighty</u> percent           (number of
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0021|     years of
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0022|      of salary received during    X .05  X       service, not exceeding    
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0023|      last year in office                         fifteen years, <s>[+]</s>     
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0024|       prior to retirement                   <u>    plus</u> five
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0025|     years)."
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0001|           Section 2.  EFFECTIVE DATE.--The effective date of the
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0002|     provisions of this act is July 1, 1997.
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