JUDICIAL RETIREMENT CHANGES

SB 150 would adjust retirement requirements for New Mexico judges by increasing the required years of service for certain judicial retirees. Specifically, judges who joined the system between 2005 and 2014 would need 16 years of service (up from 15) to qualify for retirement at age 55. The bill also modifies fund administration rules, directing investment income to be credited to the Judicial Retirement Fund and clarifying how contributions and pensions are calculated. This bill, which passed committee in February 2025 but was postponed indefinitely on June 3, 2025, directly affects current and future judges under the state's judicial retirement system. It does not change retirement benefits but adjusts eligibility criteria for retirement.