STATE POLICE CREDITED SERVICE CALCULATION

SB 438 modifies pension calculations for certain New Mexico public safety employees. It adds a 20% increase to credited service time for state police members who were active or retired by June 30, 2013, and for adult correctional officers, probation officers, and state fire members under specific service dates (post-July 2021 for probation officers, post-July 2024 for fire members). This adjustment affects how their retirement benefits are calculated under the State Public Safety Member Coverage Plan 1. The bill applies only to members who met the service cutoff dates and does not alter retirement age requirements.