Section 10-11-55.9 - Municipal general member coverage plan 4; amount of pension; form of payment AUnder municipal general member coverage plan 4:
A. for a member with age and service requirements provided under Subsection A of Section 10-11-55.8 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; andB. for a member with age and service requirements provided under Subsection B of Section 10-11-55.8 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. Laws 1998, ch. 106, § 3; 2013, ch. 225, § 44.Amended by 2023, c. 53,s. 7, eff. 6/13/2023.Amended by 2013, c. 225,s. 44, eff. 7/1/2013.