Section 10-12B-9 - Amount of pension. - New Mexico Statutes

10-12B-9. Amount of pension.

The amount of monthly pension is equal to:

A.     In the case of a former or current judge or justice, an amount equal to one-twelfth of: 

    seventy-five percent of salary number of years of   received during last year in X service, not exceeding   office prior to retirement ten years, divided   by ten;   

B.     In the case of a new judge or justice who initially became a member prior to July 1, 2005, an amount equal to one-twelfth of: 

    seventy-five percent of (number of years  salary received during  X     .05     X service, not exceeding  last year in office prior fifteen years, plus  to retirement five years); or   

C.     In the case of a new judge or justice who initially became a member on or after July 1, 2005, an amount equal to one-twelfth of the salary received during the last year in office prior to retirement multiplied by the product of three and seventy-five hundredths percent times the sum of the number of years of service; provided that a pension calculated pursuant to this subsection shall not exceed seventy-five percent of one-twelfth of the salary received during the last year in office.