Section 10-11-115.3 - Municipal detention officer member coverage plan 1; amount of pension; form of payment A.

NM Stat § 10-11-115.3 (2019) (N/A)
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Under municipal detention officer member coverage plan 1, 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 ninety percent of the final average salary.

History: Laws 2003, ch. 268, § 4; 2013, ch. 225, § 88.

The 2013 amendment, effective July 1, 2013, increased the maximum pension benefit; and in the second sentence, after "shall not exceed", deleted "sixty" 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.