2017 New Mexico Statutes
Chapter 10 - Public Officers and Employees
Article 11 - Retirement of Public Officers and Employees Generally
Section 10-11-55.9 - Municipal general member coverage plan 4; amount of pension; form of payment A.
10-11-55.9. Municipal general member coverage plan 4; amount of pension; form of payment A.
Under municipal general member coverage plan 4:
A. for a member with age and service requirements provided under Subsection A of Section 10-11-55.8 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; and
B. for a member with age and service requirements provided under Subsection B of Section 10-11-55.8 NMSA 1978, the amount of pension under form of payment A is equal to two 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.
History: Laws 1998, ch. 106, 3; 2013, ch. 225, 44.
