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)." |
- 1 -
0001| Section 2. EFFECTIVE DATE.--The effective date of the | 0002| provisions of this act is July 1, 1998. | 0003| - 2 - |