0001|                            HOUSE BILL 466
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0002|     43RD LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, 1998
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0003|                            INTRODUCED BY
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0004|                            JOHN A. HEATON
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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; AMENDING SECTION 10-12C-16
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0012|     NMSA 1978 (BEING LAWS 1992, CHAPTER 118, SECTION 16).
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0013|     
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0014|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0015|          Section 1.  Section 10-12C-16 NMSA 1978 (being Laws 1992,
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0016|     Chapter 118, Section 16) is amended to read:
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0017|          "10-12C-16.  SUSPENSION OR FORFEITURE OF BENEFITS.--
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0018|               A.  If a member retires and is subsequently
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0019|     employed by any employer covered by any state system or the
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0020|     educational retirement system, the retired member's pension
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0021|     shall be suspended effective the first day of the month
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0022|     following the month in which the subsequent employment begins. 
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0023|     The suspended pension of a previously retired member shall
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0024|     resume and be effective the first day of the month following
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0025|     the month in which the member leaves office or terminates the
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0001|     subsequent employment.
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0002|               B.  The right to receive a pension pursuant to the
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0003|     provisions of the Magistrate Retirement Act shall be forfeited
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0004|     if the member is removed from office pursuant to the
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0005|     provisions of Article 6, Section 32 of the constitution of New
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0006|     Mexico and the member's only entitlement from the fund shall
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0007|     be the refund of the member's own contributions.
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0008|               <u>C.  The provisions of Subsection A of this section
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<u></u>0009| <u>    shall not apply to a retired member who is elected to serve a
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<u></u>0010| <u>    term as an elected official if the retired member files an
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<u></u>0011| <u>    irrevocable exemption from membership in any state system with
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<u></u>0012| <u>    the association within thirty days of taking office.  Filing
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<u></u>0013| <u>    of an irrevocable exemption shall irrevocably bar the retired
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<u></u>0014| <u>    member from acquiring service credit for the period of
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<u></u>0015| <u>    exemption from the membership.</u>"
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0016|                              
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