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2018 New Mexico Statutes
Chapter 10 - Public Officers and Employees
Article 11 - Retirement of Public Officers and Employees Generally
Section 10-11-46 - Municipal general member coverage plan 1; amount of pension; form of payment A.
Universal Citation: NM Stat § 10-11-46 (2018)
10-11-46. Municipal general member coverage plan 1; amount of pension; form of payment A.
Under municipal general member coverage plan 1, the amount of pension under form of payment A is equal to two 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, § 46; 2013, ch. 225, § 32.
The 2013 amendment, effective July 1, 2013, increased the maximum pension benefit; and in the second sentence, after "shall not exceed", deleted "eighty" and added "ninety".
Severability. — Laws 2013, ch. 225, § 93 provided that if any part or application of Laws 2013, ch. 225 is held invalid, the remainder or its application to other situations or persons shall not be affected.
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