2018 New Mexico Statutes
Chapter 10 - Public Officers and Employees
Article 11 - Retirement of Public Officers and Employees Generally
Section 10-11-43.3 - State legislator member coverage plan 2; amount of pension; form of payment A.
Under state legislator member coverage plan 2, the annual amount of pension under form of payment A is equal in any calendar year to eleven percent of the per diem rate in effect, pursuant to Section 2-1-8 NMSA 1978, on the first day of the calendar year that the legislator or lieutenant governor retires multiplied by sixty and further multiplied by credited service as a legislator or lieutenant governor. A pension paid under state legislator member coverage plan 2 shall be adjusted pursuant to Section 10-11-118 NMSA 1978 for a legislator or lieutenant governor who has been retired for at least two full calendar years from the effective date of the latest retirement prior to July 1 of the year in which the pension is being adjusted.
History: Laws 2003, ch. 85, § 9; 2012, ch. 61, § 1.
The 2012 amendment, effective March 7, 2012, changed the date on which the pension is calculated and in the first sentence after "Section 2-1-8 NMSA 1978, on", deleted "December 31" and added "the first day".
