Section 10-11A-5 - Retirement benefits; eligibility. - New Mexico Statutes

10-11A-5. Retirement benefits; eligibility.

A.     Any member who attains the age of fifty-five years and has twenty-five years or more of service credit shall be eligible to receive a retirement annuity of two hundred dollars ($200), payable monthly from the fund during the remainder of the member's life. 

B.     Any member who attains the age of fifty-five years and has at least ten but less than twenty-five years or more of service credit shall be eligible to receive a retirement annuity of one hundred dollars ($100), payable monthly from the fund during the remainder of the member's life.

C.     Any member who ceases to be a volunteer nonsalaried firefighter after completing at least ten but less than twenty-five years of service credit is eligible to receive upon attaining the age of fifty-five years a retirement annuity of one hundred dollars ($100), payable monthly from the fund during the remainder of the member's life.

D.     Any member who ceases to be a volunteer nonsalaried firefighter after completing twenty-five years of service credit is eligible to receive upon attaining the age of fifty-five years a retirement annuity of two hundred dollars ($200), payable monthly from the fund during the remainder of the member's life.

E.     Any member who qualifies for and receives a retirement annuity pursuant to this section may continue as an active member on the rolls of a fire department.  However, such member shall not accrue additional service credit for the purpose of increasing the amount of the member's retirement annuity.