10-12C-8.  Age and service credit requirements for normal retirement.

A. For a magistrate who was a member on June 30, 2014, the age and service credit requirements for retirement provided for in the Magistrate Retirement Act [10-12C-1 NMSA 1978] are:

     (1) age sixty-five years or older and five or more years of service credit;

     (2) age sixty years or older and fifteen or more years of service credit; or

     (3) any age and twenty-four or more years of service credit.

B. For a magistrate who initially became a member on or after July 1, 2014, the age and service requirements for normal retirement provided for in the Magistrate Retirement Act [10-12C-1 NMSA 1978] are:

     (1) age sixty-five years or older and eight or more years of service credit;

     (2) age sixty years or older and fifteen or more years of service credit; or

     (3) any age and twenty-four or more years of service credit.

C. 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 Magistrate Retirement Act [10-12C-1 NMSA 1978] or provisions of the Public Employees Retirement Reciprocity Act [10-13A-1 NMSA 1978].

D. No member shall be eligible to receive a pension pursuant to the provisions of the Magistrate Retirement Act [10-12C-1 NMSA 1978] while still in office.