N.M. Admin. Code § 2.82.7.8

Current through Register Vol. 35, No. 24, December 23, 2024

Section 2.82.7.8 - BENEFIT PAYMENTS

A. After the initial payment of benefits, payments shall be processed or mailed monthly, not later than the last day of the month for which they are paid.

B. At the time of death, a retired member's benefit shall be paid in accordance with the option selected, or if none was selected, the member's beneficiary who shall have been named at the time of retirement, shall receive the benefit for the month of the member's death or the excess of total contributions over total benefits received by the member, whichever is greater.

C. Upon the death of a member who is receiving disability benefits and who has rejected the coverage of option B, the member's surviving beneficiary shall receive the benefit due the member from the first day of the month of death to the date of death, inclusive, or the excess of total contributions over total benefits received by the member, whichever is greater.

(1) A member eligible to receive disability benefits, shall receive unmodified benefits as set forth in Section 22-11-37 NMSA 1978, until the member attains age 60, at which time the benefit will be modified in accordance with option selected at that time, if any, and the modifications will be based upon the then attained ages of the member and beneficiary.

(2) Upon the death prior to age 60 of a member receiving disability benefits who has option B coverage, the beneficiary of such member shall be entitled to the benefits provided by Subsection D of Section 22-11-29 NMSA 1978.

N.M. Admin. Code § 2.82.7.8

6/30/99; Recompiled 10/01/01, Adopted by New Mexico Register, Volume XXVI, Issue 11, June 16, 2015, eff. 6/16/2015, Amended by New Mexico Register, Volume XXVIII, Issue 19, October 17, 2017, eff. 10/17/2017