State general member coverage plan 1; amount of normal requirements for normal retirement; form of payment A.

  1. Law
  2. New Mexico Statutes
  3. Public Officers and Employees
  4. Retirement of Public Officers and Employees Generally
  5. State general member coverage plan 1; amount of normal requirements for normal retirement; form of payment A.

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Under state general member coverage plan 1, the amount of a normal retirement pension under form of payment A is equal to two percent of final average salary multiplied by credited service. The amount shall not exceed sixty percent of final average salary.

History: Laws 1987, ch. 253, § 17.

ANNOTATIONS

Repeals and reenactments. — Laws 1987, Chapter 253 repealed former 10-11-17 NMSA 1978, as amended by Laws 1981, ch. 135, § 5, relating to funds of association, and enacted a new section, effective July 1, 1987.


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