Municipal general member coverage plan 3; amount of pension; form of payment A
NMSA 1978, § 10-11-55.3
in effect10-11-55.3. Municipal general member coverage plan 3; amount of pension; form of payment A
Under municipal general member coverage plan 3:
A. for a member with age and service requirements provided under Subsection A of Section 10-11-55.2 NMSA 1978, the amount of pension under form of payment A is equal to three percent of the final average salary multiplied by credited service. 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 Subsection B of Section 10-11-55.2 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 credited service. The amount shall not exceed one hundred percent of the final average salary.
1978 Comp., § 10-11-55.3, enacted by Laws 1993, ch. 58, § 3; 2013, ch. 225, § 40; 2023, ch. 53, § 6.
Source: New Mexico Compilation Commission (nmonesource.com)URL: https://nmonesource.com/nmos/nmsa-unanno/en/item/18510/index.do#!b/10-11-55.3Fetched: 10/20/2026