Martinez Signs Law Boosting Retirement Benefits For Volunteer Firefighters
Retirement benefits will increase for New Mexico's volunteer firefighters under legislation that has been signed into law by Gov. Susana Martinez.
The measure, which takes effect in July, will boost retirement benefits to $250 a month — up from $200 currently — for volunteer firefighters who are at least age 55 and served for 25 or more years.
Retirement benefits will increase to $125 a month — from $100 currently — for those who are age 55 and have served at least 10 years but less than 25 years.
There are about 670 retirees and nearly 5,100 active volunteer firefighters across the state.
The governor signed the measure on Monday. The retirement program is financed by part of the money from a tax on property and vehicle insurance premiums.
Copyright 2013 The Associated Press.