New Mexico 2022 Regular Session Status: In Committee 2 D cosponsors

HB 92 — MAGISTRATE JUDGE RETIREMENT CHANGES

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2022 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Bill Text

What changed in the latest version

283 added · 214 removed

Plain-language change summary

The amendments to House Bill 92 clarify that it includes changes proposed by a committee, even if those changes have not been adopted yet. Additionally, the wording has been streamlined for clarity, which helps ensure that the goals of the bill related to magistrate retirement and funding are easily understood. This matters because clear communication in legislation can help prevent confusion about retirement provisions for magistrates and the associated funding mechanisms.

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HOUSE BILL 92 55TH LEGISLATURE -STATEOFNEWMEXICO- SECOND SESSION , 2022 INTRODUCED BY Dayan Hochman-Vigil and Patricia Roybal Caballero 6 ENDORSED BY THE COURTS, CORRECTIONS AND JUSTICE COMMITTEE AND THE INVESTMENTS AND PENSIONS OVERSIGHT COMMITTEE 10 AN ACT RELATING TO MAGISTRATE RETIREMENT;
HOUSE BILL 92 55TH LEGISLATURE - STATEOFNEWMEXICO- SECOND SESSION , 2022 INTRODUCED BY Dayan Hochman-Vigil and Patricia Roybal Caballero This document may incorporate amendments proposed by a committee, but not yet adopted, as well as amendments that have been adopted during the current legislative session.
ALLOWING FOR THE APPROPRIATION OF MONEY INTO THE MAGISTRATE RETIREMENT FUND;
The document is a tool to show amendments in context and cannot be used for the purpose of adding amendments to legislation.
INCREASING CERTAIN SERVICE CREDIT MULTIPLIERS PROVIDED IN THE MAGISTRATE RETIREMENT ACT;
ENDORSED BY THE COURTS, CORRECTIONS AND JUSTICE COMMITTEE AN D THE INVESTMENTS AND PENSIONS OVERSIGHT COMMITTEE AN ACT h RELATING TO MAGISTRATE RETIREMENT;
MAKING AN APPROPRIATION.
ALLOWING FOR THE g o APPROPRIATION OF MONEY INTO THE MAGISTRATE RETIREMENT FUND;
16 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
t hr g e i k INCREASING CERTAIN SERVICE CREDIT MULTIPLIERS PROVIDED IN THE h r i s MAGISTRATE RETIREMENT ACT HAFCº;
e t 17 SECTION 1.
MAKING AN APPROPRIATION»HAFC.
Section 10-12C-3 NMSA 1978 (being Laws 1992, w l n d 18 Chapter 118, Section 3, as amended) is amended to read:
h , t, e u g e b l e e h BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
= = 19 a l "10-12C-3.
n d d i = = o h SECTION 1.
MAGISTRATE RETIREMENT FUND ESTABLISHED-- i a e r 20 ADMINISTRATION OF FUND--ACCOUNTING FUNDS.-- a t m m 21 A.
Section 10-12C-3 NMSA 1978 (being Laws 1992, l ] b ,d i a º e Chapter 118, Section 3, as amended) is amended to read:
There is established in the state treasury the d r e 22 "magistrate retirement fund".
r i = r t e w d m a n o "10-12C-3.
The fund [is comprised] consists c e s k 23 of appropriations, money received from docket fees of e a n b 24 magistrate courts, employer and member contributions and [any] u [ all income derived from the investment [earnings on fees and .221389.2SA contributions] of the fund.
MAGISTRATE RETIREMENT FUND ESTABLISHED-- d m :
b e d s º o t n = .221389.2SAAIC February 9, 2022 (3:13pm) s k m e e a n e d r e l u [ A d ADMINISTRATION OF FUND--ACCOUNTING FUNDS.-- A.
There is established in the state treasury the "magistrate retirement fund".
The fund [is comprised ] consists of appropriations, money received from docket fees of magistrate courts, employer and member contributions and [any ] all income derived from the investment [earnings on fees and contributions] of the fund.
For purposes of this section, the accounting funds shall be known as the "member contribution fund", "employer's accumulation fund", "retirement reserve fund" and "income fund".
For purposes of this section, the accounting funds shall be known as the "member contribution fund", h "employer's accumulation fund", "retirement reserve fund" and g o t hr "income fund".
The maintenance of separate accounting funds shall not require the actual segregation of the assets of the fund.
The maintenance of separate accounting funds g e i k shall not require the actual segregation of the assets of the h r i s fund.
C.
h , t, C.
The accounting funds provided for in this section are trust funds and shall be used only for the purposes e t 17 provided for in the Magistrate Retirement Act.
The accounting funds provided for in this e u g e b l e e h section are trust funds and shall be used only for the purposes n d d i = = o h provided for in the Magistrate Retirement Act.
w l n d 18 D.
l ] b ,d i a º e D.
The member contribution fund is the accounting = = 19 a l fund in which shall be accumulated contributions of members and i a e r 20 from which shall be made refunds and transfers of accumulated a t m m 21 member contributions as provided in the Magistrate Retirement d r e 22 Act.
The member contribution fund is the accounting r i = r t e w d m a n o fund in which shall be accumulated contributions of members and d m :
The member's court shall cause member contributions to be c e s k 23 deducted from the salary of the member and shall remit the e a n b 24 deducted member contributions to the association in accordance u [ with procedures and schedules established by the association.
b e d s º o t n = .221389.2SAAIC February 9, 2022 (3:13pm) s k m e - 2 - e a n e d r e l u [ A d from which shall be made refunds and transfers of accumulated member contributions as provided in the Magistrate Retirement Act.
.221389.2SA - 2 - The association may assess an interest charge and a penalty charge on any late remittance.
The member's court shall cause member contributions to be deducted from the salary of the member and shall remit the deducted member contributions to the association in accordance with procedures and schedules established by the association.
The association may assess an interest charge and a penalty charge on any late remittance.
The employer's accumulation fund is the accounting fund in which shall be accumulated the contributions paid by the state through the administrative office of the courts.
The employer's accumulation fund is the accounting fund in which shall be accumulated the contributions h paid by the state through the administrative office of the g o t hr courts.
The state, through the administrative office of the courts, shall remit its contributions to the association in accordance with procedures and schedules established by the association.
The state, through the administrative office of the g e i k courts, shall remit its contributions to the association in h r i s accordance with procedures and schedules established by the h , t, association.
The board may assess an interest charge and a penalty charge on any late remittance.
The board may assess an interest charge and a e u g e b l e e h penalty charge on any late remittance.
e t 17 F.
n d d i = = o h F.
The retirement reserve fund is the accounting w l n d 18 fund from which shall be paid all pensions to retired members = = 19 a l and survivor beneficiaries and all residual refunds to refund i a e r 20 beneficiaries of retired members and survivor beneficiaries.
The retirement reserve fund is the accounting l ] b ,d i a º e fund from which shall be paid all pensions to retired members r i = r t e w d m a n o and survivor beneficiaries and all residual refunds to refund d m :
a t m m 21 G.
b e d s º o t n = .221389.2SAAIC February 9, 2022 (3:13pm) s k m e - 3 - e a n e d r e l u [ A d beneficiaries of retired members and survivor beneficiaries.
Each year, following receipt of the report of d r e 22 the annual actuarial valuation, the excess, if any, of the c e s k 23 reported actuarial present value of pensions being paid and e a n b 24 likely to be paid to retired members and survivor beneficiaries u [ and residual refunds likely to be paid to refund beneficiaries .221389.2SA - 3 - of retired members and survivor beneficiaries over the balance in the retirement reserve fund shall be transferred to the retirement reserve fund from the employer's accumulation fund.
G.
Each year, following receipt of the report of the annual actuarial valuation, the excess, if any, of the reported actuarial present value of pensions being paid and likely to be paid to retired members and survivor beneficiaries and residual refunds likely to be paid to refund beneficiaries of retired members and survivor beneficiaries over the balance in the retirement reserve fund shall be transferred to the retirement reserve fund from the employer's accumulation fund.
Expenses related to the administration of the Magistrate Retirement Act shall be paid for from the income fund.
Expenses related to the administration of the Magistrate Retirement Act shall be paid h for from the income fund.
I.
u » r I.
The association shall at least annually distribute all or a portion of the balance in the income fund to the member contribution fund, the retirement reserve fund and the employer's accumulation fund.
The association shall at least annually t h g e l i distribute all or a portion of the balance in the income fund h r i s to the member contribution fund, the retirement reserve fund h , e h and the employer's accumulation fund.
Distribution rates shall be determined by the board and may vary for the respective e t 17 accounting funds." w l n d 18 SECTION 2.
Distribution rates shall t u g e b l e e , gh be determined by the board and may vary for the respective n d d i = = o h accounting funds." l ] b ,d i a º r SECTION 2.
Section 10-12C-9 NMSA 1978 (being Laws 1992, = = 19 a l Chapter 118, Section 9, as amended by Laws 2014, Chapter 39, i a e r 20 Section 6 and by Laws 2014, Chapter 43, Section 6) is amended a t m m 21 to read:
Section 10-12C-9 NMSA 1978 (being Laws 1992, e r = t e w d m a n o Chapter 118, Section 9, as amended by Laws 2014, Chapter 39, d m :
d r e 22 "10-12C-9.
b r e t º o t n = .221389.2SAAIC February 9, 2022 (3:13pm) s k m e - 4 - e a n e d r e l u [ A d Section 6 and by Laws 2014, Chapter 43, Section 6) is amended to read:
AMOUNT OF PENSION.-- c e s k 23 A.
"10-12C-9.
For a magistrate who was a member on June 30, e a n b 24 2014, the monthly pension is an amount equal to the sum of:
AMOUNT OF PENSION.-- A.
u [ (1) for service credit earned on or before .221389.2SA - 4 - June 30, 2014, the amount is equal to one-twelfth of:
For a magistrate who was a member on June 30, 2014, the monthly pension is an amount equal to the sum of:
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(1) for service credit earned on or before June 30, 2014, the amount is equal to one-twelfth of:
and (2) for service credit earned on and after July 1, 2014, an amount equal to one-sixtieth of the greatest aggregate amount of salary received for sixty consecutive, but not necessarily continuous, months in office multiplied by the product of three and one-half percent times the sum of the number of years of service.
and (2) for service credit earned on and after July 1, 2014, an amount equal to one-sixtieth of the greatest aggregate amount of salary received for sixty consecutive, but not necessarily continuous, months in office multiplied by the h product of three and one-half percent times the sum of the g o t hr number of years of service.
B.
g e i k B.
For a magistrate who initially became a member on or after July 1, 2014, the amount of monthly pension is equal to:
For a magistrate who initially became a member h r i s on or after July 1, 2014, the amount of monthly pension is h , t, equal to:
(1) for service credit earned on and after e t 17 July 1, 2014 but on or before June 30, 2022, an amount equal to w l n d 18 one-sixtieth of the greatest aggregate amount of salary = = 19 a l received for sixty consecutive, but not necessarily continuous, i a e r 20 months in office multiplied by the product of three percent a t m m 21 times the sum of the number of years of service;
e u g e b l e e h (1) for service credit earned on and after n d d i = = o h July 1, 2014 but on or before June 30, 2022, an amount equal to l ] b ,d i a º e one-sixtieth of the greatest aggregate amount of salary r i = r t e w d m a n o received for sixty consecutive, but not necessarily continuous, d m :
or d r e 22 (2) for service credit earned on and after c e s k 23 July 1, 2022, an amount equal to one-sixtieth of the greatest e a n b 24 aggregate amount of salary received for sixty consecutive, but u [ not necessarily continuous, months in office multiplied by the .221389.2SA - 5 - product of three and one-half percent times the sum of the number of years of service.
b e d s º o t n = .221389.2SAAIC February 9, 2022 (3:13pm) s k m e - 5 - e a n e d r e l u [ A d months in office multiplied by the product of three percent times the sum of the number of years of service;
or (2) for service credit earned on and after July 1, 2022, an amount equal to one-sixtieth of the greatest aggregate amount of salary received for sixty consecutive, but not necessarily continuous, months in office multiplied by the product of three and one-half percent times the sum of the number of years of service.
The amount of monthly pension payable for a pension calculated pursuant to Subsection A of this section shall not exceed eighty-five percent of one-sixtieth of the greatest aggregate amount of salary received for sixty consecutive, but not necessarily continuous, months prior to the member leaving office.
The amount of monthly pension payable for a pension calculated pursuant to Subsection A of this section h shall not exceed eighty-five percent of one-sixtieth of the u » r greatest aggregate amount of salary received for sixty t h g e l i consecutive, but not necessarily continuous, months prior to h r i s the member leaving office.
A pension benefit determined pursuant to this subsection shall not be less than the benefit earned as of June 30, 2014." e t 17 SECTION 3.
A pension benefit determined h , e h pursuant to this subsection shall not be less than the benefit t u g e b l e e , gh earned as of June 30, 2014." n d d i = = o h HAFCº SECTION 3.
APPROPRIATION.--Ten million dollars w l n d 18 ($10,000,000) is appropriated from the general fund to the = = 19 a l magistrate retirement fund for expenditure in fiscal year 2023 i a e r 20 and subsequent fiscal years to address solvency issues related a t m m 21 to the Magistrate Retirement Act.
APPROPRIATION.--Ten million dollars l ] b ,d i a º r ($10,000,000) is appropriated from the general fund to the e r = t e w d m a n o magistrate retirement fund for expenditure in fiscal year 2023 d m :
Any unexpended or d r e 22 unencumbered balance remaining at the end of a fiscal year c e s k 23 shall not revert to the general fund.
b r e t º o t n = .221389.2SAAIC February 9, 2022 (3:13pm) s k m e - 6 - e a n e d r e l u [ A d and subsequent fiscal years to address solvency issues related to the Magistrate Retirement Act.
e a n b 24 - 6 - u [ .221389.2SA
Any unexpended or unencumbered balance remaining at the end of a fiscal year shall not revert to the general fund.»HAFC - 7 - » g o » r h t i k l i g t h s , e h t l i w l b l e e , g n d l h = = b , a l º d i a r e r = , a t e d m a n o d m :
b r e t º o t n = .221389.2SAAIC February 9, 2022 (3:13pm) s k em e e a n e d r e l u [ A d
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Action History

  1. action postponed indefinitely

  2. tabled in House

  3. DO PASS, as amended, committee report adopted

  4. DO PASS committee report adopted

  5. Sent to House Judiciary Committee & House Appropriations & Finance Committee

Sponsors

Sponsorship breakdown

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2 sponsors · 0 co-sponsors · 110 not signed on

Sponsors (2)

Co-sponsors (0)

None.

Not signed on (110)

110 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Frequently asked questions

Who sponsors HB 92?
HB 92 is sponsored by Dayan Hochman-Vigil (Democrat) and Patricia Roybal Caballero (Democrat).
What is the current status of HB 92?
This bill died with 2022 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HB 92?
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