Section 10-11A-3 - Volunteer firefighters retirement fund; creation; transfer of funds from the fire protection fund. - New Mexico Statutes

10-11A-3. Volunteer firefighters retirement fund; creation; transfer of funds from the fire protection fund.

A.     There is created the "volunteer firefighters retirement fund" in the state treasury. All annuities and benefits in lieu of annuities shall be paid from the fund as provided in the Volunteer Firefighters Retirement Act [Chapter 10, Article 11A NMSA 1978].   

B.     Beginning in fiscal year 1998, the state treasurer shall transfer annually on or before the last day of July seven hundred fifty thousand dollars ($750,000) plus an additional two hundred fifty thousand dollars ($250,000) for fiscal year 1998 plus an additional two hundred fifty thousand dollars ($250,000) for fiscal year 1999 plus an additional five hundred thousand dollars ($500,000) for fiscal year 2000 from the fire protection fund to the credit of the volunteer firefighters retirement fund.