GroundRules
10-11-26.3: State general member coverage plan 3; amount of pension; form of payment A.
Where this section sits in the code
- Chapter 10 - Public Officers and Employees
- ARTICLE 11 Retirement of Public Officers and Employees Generally
Under state general member coverage plan 3:
A. for a member with age and service requirements provided under Paragraph (1) or (3) of Subsection A of Section 10-11-26.2 NMSA 1978, the amount of pension under form of payment A is equal to three percent of final average salary multiplied by service credit. The amount shall not exceed one hundred percent of the final average salary; and
B. for a member with age and service requirements provided under Paragraph (2) or (4) of Subsection A of Section 10-11-26.2 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 service credit. The amount shall not exceed one hundred percent of the final average salary.
Collected 2026-09-03T15:02:19Z. Source file · JSON