HB 182 — JUDICIAL RETIREMENT CHANGES

Except for a member who is retired under any state system or the educational retirement system, if a member leaves office for any reason, other than removal pursuant to Article 6, Section 32 of the constitution of New Mexico, before meeting the age and service credit requirements for retirement pursuant to the provisions of this section and if that member leaves the member contributions on deposit in the fund, that member may apply for retirement when that member meets the age and service credit requirements for retirement pursuant to the provisions of the Judicial Retirement Act or provisions of the Public HB 182/a Page 5 Employees Retirement Reciprocity Act.

Section 10-12B-9 NMSA 1978 (being Laws 1992, h Chapter 111, Section 9, as amended) is amended to read:

u » r "10-12B-9.

AMOUNT OF PENSION.-- t h g e l i A.

For a judge or justice who occupied such an h r i s office prior to July 1, 1980, but who had ceased to hold such h , e h an office prior to that date and who elected to be excluded t u g e b l e e , gh from the provisions of the Judicial Retirement Act;

or a judge n d d i = = o h or justice who occupied such an office on July 1, 1980, but who l ] b ,d i a º r elected to be covered under the provisions of the retirement e r = t e w d m a n o plan in effect at that time, the amount of monthly pension is dan mamount :equal to one-twelfth of:

bseventy-five rpercent eof tsalary ºreceived oX tnumber nof =years .229986.1SAAICof Marchduring 14,last 2025year (10:38am)in sservice kcredit, mnot eoffice -prior 6to -exceeding eten ayears, nretirement edivided dby rten. e l u [ A d an amount equal to one-twelfth of:

seventy-five percent number of years of salary received X service Hfl1º credit»Hfl1 during last year in , not exceeding office prior to ten years, divided retirement By ten.

or a judge or justice who occupied such an office on or before July 1, 1980 and who has elected to be covered pursuant to the provisions of the Judicial HB 182/a Page 6 Retirement Act, the amount of monthly pension is an amount equal to the sum of:

h seventy-five (number of years of g o t hr percent of salary service Hfl1ºcredit credit»Hfl1not g e i k received during X.05 X not.05 X exceeding fifteen h r i s last year,year in office years, plus five h , t, prior to retirement year);years);

[and] e u g e b l e e h (2) for service credit earned on and after n d d i = = o h July 1, 2014, but before July 1, 20252025, , an amount equal to one-one-sixtieth l ] b ,d i a º e sixtieth of the greatest aggregate amount of salary received rfor isixty =consecutive, rbut tnot enecessarily wcontinuous, dmonths min aoffice nmultiplied oby forthe sixtyproduct consecutive,of butthree notand necessarilyone-half continuous,percent monthstimes dthe mnumber :of years of service credit;

b e d s º o t n = .229986.1SAAIC March 14, 2025 (10:38am) s k m e - 7 - e a n e d r e l u [ A d in office multiplied by the product of three and one-half percent times the number of years of service Hfl1º [credit]»Hfl1 Hfl1ºcredit»Hfl1 ;

and (4) for service credit earned after ten years, or one hundred twenty months, of service credit earned HB 182/a Page 7 pursuant to this section, 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 h the number of years of service Hfl1ºcredit»Hfl1credit. .

u » r C.

For a judge or justice who initially became a t h g e l i member after June 30, 2005 but on or before June 30, 2014, the h r i s amount of monthly pension is an amount equal to the sum of:

h , e h (1) for service credit earned on or before t u g e b l e e , gh June 30, 2014, an amount equal to one-twelfth of the salary n d d i = = o h received during the last year in office prior to retirement l ] b ,d i a º r multiplied by the product of three and seventy-five hundredths e r = t e w d m a n o percent times the sum of the number of years of service dcredit; m :

b(2) rfor eservice tcredit ºearned oon tand nafter =July .229986.1SAAIC1, March2014, 14,but 2025before (10:38am)July s1, k2025, man eamount -equal 8to -one-sixtieth eof athe ngreatest eaggregate damount rof esalary lreceived ufor [sixty Aconsecutive, dbut Hfl1ºcredit»Hfl1not ;necessarily continuous, months in office multiplied by the product of three and one-half percent times the number of years of service credit;

[and](3) (2) for service credit earned on and after July 1, 2014, but before July 1, 2025, an amount equal to one-one-sixtieth sixtieth of the greatest aggregate amount of salary received for sixty consecutive, HB 182/a Page 8 but not necessarily continuous, months in office multiplied by the product of threefour and one-half percent times the number of years of service credit up to ten years, or one hundred twenty months, of accumulated service credit;

(3)and (4) for service credit earned onafter andten afteryears, Julyor 1,one 2025,hundred twenty months, of service credit earned pursuant to this section, 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 fourthree and one-half percent times the number of years of service creditcredit. up to ten years, or one hundred twenty months, of accumulated service credit;

andD. (4) for service credit earned after ten years, or one hundred twenty months, of service credit earned pursuant h to this section, an amount equal to 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 in office h r i s multiplied by the product of three and one-half percent times h , e h the number of years of service credit.

tFor ua gjudge eor bjustice lwho einitially ebecame ,a ghmember D.on or after July 1, 2014, but on or before June 30, 2025, the amount of monthly pension is an amount equal to the sum of:

For(1) afor judgeservice orcredit justiceearned who initially became a n d d i = = o h member on or after July 1, 2014, Hfl1º but on or before June 30, l2025, ]an bamount ,dequal ito aone-sixtieth ºof rthe 2025,»Hfl1greatest theaggregate amount of monthlysalary pensionreceived [underfor formsixty ofconsecutive, paymentbut enot rnecessarily =continuous, tmonths ein woffice dmultiplied mby athe nproduct oof A]three isand anone-fourth amountpercent equaltimes to the sumnumber of:of years of service credit;

d(2) mfor :service credit earned on and after July 1, 2025, 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 HB 182/a Page 9 by the product of four percent times the number of years of service credit up to ten years, or one hundred twenty months, of accumulated service credit;

band r(3) efor tservice ºcredit oearned tafter nten =years, .229986.1SAAICor Marchone 14,hundred 2025twenty (10:38am)months, sof k m e - 9 - e a n e d r e l u [ A d (1) for service credit earned onpursuant orto beforethis Hfl1ºJulysection, 1»Hfl1 Hfl1ºJune 30»Hfl1 , 2025, 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-one-half fourth percent times the number of years of service Hfl1ºcredit. credit»Hfl1 ;

(2)E. for service credit earned on and after July 1, 2025, 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 four percent times the number of years of service credit up to ten years, or one hundred twenty months, of accumulated service credit;

andFor (3)a forjudge serviceor creditjustice earnedwho afterinitially tenbecame years,a ormember oneon hundredor twentyafter months,July of1, service2025, creditthe earnedamount pursuantof hmonthly topension thisis section, an amount equal to one-sixtieth of the usum »of: r greatest aggregate amount of salary received for sixty t h g e l i consecutive, but not necessarily continuous, months in office h r i s multiplied by the product of three and one-half percent times h , e h the number of years of service credit.

t u g e b l e e , gh E.

[The amount of pension under form of payment A n d d i = = o h for a pension calculated pursuant to Subsection D of this l ] b ,d i a º r section shall not exceed eighty-five percent of one-sixtieth of e r = t e w d m a n o the greatest aggregate amount of salary received for sixty d m :

b r e t º o t n = .229986.1SAAIC March 14, 2025 (10:38am) s k m e - 10 - e a n e d r e l u [ A d consecutive, but not necessarily continuous, months prior to the member leaving office] For a judge or justice who initially became a member on or after July 1, 2025, the amount of monthly pension is an amount equal to the sum of:

and (2) for service credit earned after ten years, or one hundred twenty months, of service credit earned pursuant to this section, 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 hHB 182/a Page 10 the number of years of service credit.

u » r F.

The amount of pension payable for a pension t h g e l i calculated pursuant to Subsection A, B, [or ] C, D or E of this h r i s section shall not exceed [eighty-five ] one hundred percent of h , e h one-sixtieth of the greatest aggregate amount of salary t u g e b l e e , gh received for sixty consecutive, but not necessarily continuous, n d d i = = o h months prior to the member leaving office.

A pension benefit l ] b ,d i a º r determined pursuant to this subsection shall not be less than e r = t e w d m a n o the benefit earned as of June 30, 2014." dSECTION m4. :

b r e t º o t n = .229986.1SAAIC March 14, 2025 (10:38am) s k m e - 11 - e a n e d r e l u [ A d SECTION 4.

[B.] C.

Upon implementation, the state, acting as employer of members covered pursuant to the provisions of the Judicial Retirement Act, shall, solely for the purpose of compliance with Section 414(h) of the Internal Revenue Code of 1986, pick up, for the purposes specified in that section, member contributions required by this section for all annual HB 182/a Page 11 salary earned by the member.

Member contributions picked up h pursuant to the provisions of this section shall be treated as u » r employer contributions for purposes of determining income tax t h g e l i obligations under the Internal Revenue Code of 1986;

however, h r i s such picked-up member contributions shall be included in the h , e h determination of the member's gross annual salary for all other t u g e b l e e , gh purposes under federal and state laws.

Member contributions n d d i = = o h picked up pursuant to the provisions of this section shall l ] b ,d i a º r continue to be designated member contributions for all purposes eof rthe =Judicial tRetirement eAct wand dshall mbe aconsidered nas opart of the Judicialmember's Retirementannual Actsalary andfor shallpurposes beof considereddetermining asthe partamount dof mthe :member's contribution.

b r e t º o t n = .229986.1SAAIC March 14, 2025 (10:38am) s k m e - 12 - e a n e d r e l u [ A d of the member's annual salary for purposes of determining the amount of the member's contribution.

On and after July 1, 20252025, , the member's court shallHB contribute182/a [fifteenPage ]12 shall contribute nineteen and twenty-four hundredths percent of salary to the fund for each member in office.

Thirty-eight dollars ($38.00) from each civil h case docket fee paid in the district court, twenty-five dollars g o t hr ($25.00) from each civil docket fee paid in metropolitan court g e i k and ten dollars ($10.00) from each jury fee paid in h r i s metropolitan court shall be paid by the court clerk to the h , t, employer's accumulation fund." eSECTION u g e b l e e h Hfl1ºSECTION 6.

APPLICABILITY.--The provisions of n d d i = = o h Subsection F of Section 3 of this act apply to credited service l ] b ,d i a º e performed after the effective date of this act.

Any credited rservice iperformed =or ramount tof epension wearned dprior mto athe neffective odate serviceof performedthis oract amountshall ofnot pensionbe earnedcalculated prioror adjusted to conform to the dprovisions mof :this act.

b e d s º o t n = .229986.1SAAIC March 14, 2025 (10:38am) s k m e - 13 - e a n e d r e l u [ A d effective date of this act shall not be calculated or adjusted to conform to the provisions of this act.»Hfl1 SECTION Hfl1º6.»Hfl17. Hfl1º7.»Hfl1 EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2025.

-EFFECTIVE 14DATE.--The -effective »date gof othe »provisions rof hthis tact iis kJuly l1, i2025. 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 :

bHB r182/a ePage t13 º25 o t n = .229986.1SAAIC March 14, 2025 (10:38am) s k em e e a n e d r e l u [ A d