2020 New Mexico Statutes
Chapter 10 - Public Officers and Employees
Article 11 - Retirement of Public Officers and Employees Generally
Section 10-11-29 - State police member, correctional officer member and probation and parole officer member coverage plan 1; amount of pension; form of payment A.

Under state police member, correctional officer member and probation and parole officer member coverage plan 1, the amount of pension under form of payment A is equal to three percent of final average salary multiplied by credited service. The amount shall not exceed ninety percent of the final average salary.

History: Laws 1987, ch. 253, § 29; 2003, ch. 268, § 12; 2013, ch. 225, § 17; 2020, ch. 11, § 10.

Repeals and reenactments. — Laws 1987, Chapter 253 repealed former 10-11-29 NMSA 1978, as amended by Laws 1985, ch. 162, § 1, relating to cost-of-living adjustment, and enacted a new section, effective July 1, 1987.

The 2020 amendment, effective July 1, 2020, revised the name of the coverage plan; in the section heading, deleted "and adult", and added "and probation and parole officer member"; and after "state police member", deleted "and adult", and after "correctional officer member", added "and probation and parole officer member".

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.

The 2003 amendment, effective July 1, 2003, inserted "and adult correctional officer member" following "state police member" in the section heading and following "member" in the text.