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 — Laws 1987, Chapter 253 repealed former 10-11-17 NMSA 1978, as amended by Laws 1981, ch. 135, § 5, relating to funds of association, and enacted a new section, effective July 1, 1987.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