0001| SENATE BILL 128
|
0002| 43RD LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, 1998
|
0003| INTRODUCED BY
|
0004| MICHAEL S. SANCHEZ
|
0005|
|
0006|
|
0007|
|
0008|
|
0009|
|
0010| AN ACT
|
0011| RELATING TO MAGISTRATE RETIREMENT; INCREASING THE AMOUNT OF
|
0012| PENSION FOR MAGISTRATES; AMENDING A SECTION OF THE MAGISTRATE
|
0013| RETIREMENT ACT; MAKING AN APPROPRIATION.
|
0014|
|
0015| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
|
0016| Section 1. Section 10-12C-9 NMSA 1978 (being Laws 1992,
|
0017| Chapter 118, Section 9) is amended to read:
|
0018| "10-12C-9. AMOUNT OF PENSION.--The amount of pension is
|
0019| equal to one-twelfth of:
|
0020| [seventy-five] eighty (number of
|
0021| years of
|
0022| percent of salary service, not
|
0023| received during X .05 X exceeding fifteen
|
0024| last year in office years, [+] plus
|
0025| prior to retirement five years)."
|