State legislator member coverage plan 2; amount of pension; form of payment A
NMSA 1978, § 10-11-43.3
in effect10-11-43.3. 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 fourteen percent of the per diem rate in effect, pursuant to Section 2-1-8 NMSA 1978, on the first day of the fiscal year that the legislator or lieutenant governor retires multiplied by ninety 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.
Laws 2003, ch. 85, § 9; 2012, ch. 61, § 1; 2019, ch. 251, § 1; 2022, ch. 16, § 1; 2024, ch. 29, § 1.
Source: New Mexico Compilation Commission (nmonesource.com)URL: https://nmonesource.com/nmos/nmsa-unanno/en/item/18510/index.do#!b/10-11-43.3Fetched: 10/20/2026