2017 New Mexico Statutes
Chapter 10 - Public Officers and Employees
Article 11 - Retirement of Public Officers and Employees Generally
Section 10-11-112 - Municipal fire member coverage plan 5; amount of pension; form of payment A.
10-11-112. Municipal fire member coverage plan 5; amount of pension; form of payment A.
Under municipal fire member coverage plan 5:
A. for a member with age and service requirements provided under Subsection A of Section 10-11-111 NMSA 1978, the amount of pension under form of payment A is equal to three and one-half percent of the final average salary multiplied by credited service. The amount shall not exceed ninety percent of the final average salary; and
B. for a member with age and service requirements provided under Subsection B of Section 10-11-111 NMSA 1978, the amount of pension under form of payment A is equal to three percent of the final average salary multiplied by credited service. The amount shall not exceed ninety percent of the final average salary.
History: Laws 1987, ch. 253, 112; 2013, ch. 225, 84.