Section 22-11-27 - Deferred retirement; restriction. - New-mexico Statutes

State Codes and Statutes

Statutes > New-mexico > Chapter-22 > Article-11 > Section-22-11-27

22-11-27. Deferred retirement; restriction.

A. A member eligible for retirement may continue in employment and shall continue to pay contributions as provided by the Educational Retirement Act [22-11-1 NMSA 1978].

B. A member may terminate his employment and retire at any time after his age and his earned service-credit equal the sum of seventy-five if the contributions he has made are left in the fund.

C. A member having five years or more of earned service-credit may terminate his employment and retire at any time after reaching the age of sixty-five years if the contributions he has made are left in the fund.

D. No member shall be on a retirement status while engaged in employment unless the employment falls within exceptions established by statute or rule of the board.

State Codes and Statutes

Statutes > New-mexico > Chapter-22 > Article-11 > Section-22-11-27

22-11-27. Deferred retirement; restriction.

A. A member eligible for retirement may continue in employment and shall continue to pay contributions as provided by the Educational Retirement Act [22-11-1 NMSA 1978].

B. A member may terminate his employment and retire at any time after his age and his earned service-credit equal the sum of seventy-five if the contributions he has made are left in the fund.

C. A member having five years or more of earned service-credit may terminate his employment and retire at any time after reaching the age of sixty-five years if the contributions he has made are left in the fund.

D. No member shall be on a retirement status while engaged in employment unless the employment falls within exceptions established by statute or rule of the board.

State Codes and Statutes

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State Codes and Statutes

Statutes > New-mexico > Chapter-22 > Article-11 > Section-22-11-27

22-11-27. Deferred retirement; restriction.

A. A member eligible for retirement may continue in employment and shall continue to pay contributions as provided by the Educational Retirement Act [22-11-1 NMSA 1978].

B. A member may terminate his employment and retire at any time after his age and his earned service-credit equal the sum of seventy-five if the contributions he has made are left in the fund.

C. A member having five years or more of earned service-credit may terminate his employment and retire at any time after reaching the age of sixty-five years if the contributions he has made are left in the fund.

D. No member shall be on a retirement status while engaged in employment unless the employment falls within exceptions established by statute or rule of the board.